NCS Multistage (NASDAQ:NCSM) Raised to “Strong-Buy” at Singular Research

NCS Multistage (NASDAQ:NCSM) was upgraded by investment analysts at Singular Research to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages have also recently issued reports on NCSM. Weiss Ratings reissued a “hold (c-)” rating on shares of NCS Multistage in a report on Wednesday, October 8th. Wall Street Zen cut NCS Multistage from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Zacks Research downgraded shares of NCS Multistage from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

NCS Multistage Stock Up 2.7%

NCS Multistage stock opened at $38.33 on Tuesday. The firm has a 50 day simple moving average of $43.78 and a 200 day simple moving average of $36.11. The company has a current ratio of 4.66, a quick ratio of 2.83 and a debt-to-equity ratio of 0.04. NCS Multistage has a 1-year low of $20.00 and a 1-year high of $53.69. The firm has a market capitalization of $97.39 million, a price-to-earnings ratio of 8.44 and a beta of 0.79.

NCS Multistage (NASDAQ:NCSM) last posted its earnings results on Wednesday, October 29th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.20. NCS Multistage had a return on equity of 12.27% and a net margin of 6.89%.The firm had revenue of $46.54 million for the quarter, compared to the consensus estimate of $46.10 million.

Insider Activity

In other news, Director Robert Nipper sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $40.00, for a total transaction of $40,000.00. Following the completion of the transaction, the director owned 33,455 shares of the company’s stock, valued at approximately $1,338,200. The trade was a 2.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On NCS Multistage

A number of institutional investors and hedge funds have recently bought and sold shares of NCSM. PNC Financial Services Group Inc. grew its stake in NCS Multistage by 342.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 863 shares of the company’s stock worth $44,000 after buying an additional 668 shares in the last quarter. Heron Bay Capital Management bought a new stake in shares of NCS Multistage during the 3rd quarter worth $222,000. NewEdge Advisors LLC grew its position in NCS Multistage by 3,774.4% in the second quarter. NewEdge Advisors LLC now owns 8,175 shares of the company’s stock worth $241,000 after acquiring an additional 7,964 shares in the last quarter. Bailard Inc. bought a new position in NCS Multistage in the first quarter valued at $249,000. Finally, GSA Capital Partners LLP purchased a new stake in NCS Multistage during the third quarter valued at about $296,000. 70.91% of the stock is owned by hedge funds and other institutional investors.

About NCS Multistage

NCS Multistage Holdings, Inc provides engineered products and support services for oil and natural gas well completions and construction, and field development strategies in the United States, Canada, and internationally. It offers fracturing systems, which include casing-installed sliding sleeves, downhole frac isolation assemblies, and sand jet perforating products; enhanced recovery products, such as sliding sleeve, as well as Terrus system, an injection control device; repeat precision products comprising composite frac plugs and bridge plugs, single-use disposable setting tools, express systems, and related products; chemical and radioactive tracer diagnostics services; and well construction products, including AirLock casing buoyancy system, Vecturon and Vectraset liner hanger systems, and Toe initiation sleeves.