Nine Energy Service, Inc. (NYSE:NINE) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its position in Nine Energy Service, Inc. (NYSE:NINE) by 13.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,151 shares of the company’s stock after selling 20,093 shares during the quarter. Bank of America Corp DE owned about 0.31% of Nine Energy Service worth $148,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in shares of Nine Energy Service in the fourth quarter worth approximately $168,000. Essex Investment Management Co. LLC acquired a new stake in shares of Nine Energy Service during the fourth quarter worth approximately $127,000. Renaissance Technologies LLC grew its position in Nine Energy Service by 22.2% during the fourth quarter. Renaissance Technologies LLC now owns 390,136 shares of the company’s stock valued at $437,000 after purchasing an additional 70,900 shares in the last quarter. Prudential Financial Inc. acquired a new position in Nine Energy Service in the 4th quarter valued at approximately $32,000. Finally, NewEdge Advisors LLC purchased a new stake in Nine Energy Service in the 4th quarter worth approximately $28,000. 57.61% of the stock is owned by institutional investors and hedge funds.

Nine Energy Service Stock Down 14.2%

Nine Energy Service stock opened at $0.63 on Tuesday. Nine Energy Service, Inc. has a 12 month low of $0.44 and a 12 month high of $2.02. The stock has a market cap of $26.68 million, a P/E ratio of -0.52 and a beta of 2.50. The company’s fifty day simple moving average is $0.67 and its 200-day simple moving average is $1.01.

Nine Energy Service (NYSE:NINE) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.02. The firm had revenue of $150.47 million during the quarter, compared to the consensus estimate of $149.10 million. On average, equities research analysts expect that Nine Energy Service, Inc. will post -1.12 earnings per share for the current fiscal year.

Insider Activity

In other Nine Energy Service news, insider Theodore R. Moore sold 38,017 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $0.73, for a total transaction of $27,752.41. Following the transaction, the insider now owns 148,403 shares in the company, valued at $108,334.19. This trade represents a 20.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 52,979 shares of company stock worth $37,902. 4.10% of the stock is owned by corporate insiders.

Nine Energy Service Company Profile

Nine Energy Service, Inc operates as an onshore completion services provider that targets unconventional oil and gas resource development in North American basins and internationally. It offers cementing services, including blending high-grade cement and water with various solid and liquid additives to create a cement slurry that is pumped between the casing and the wellbore of the well.