Zacks Investment Research Lowers NCS Multistage (NASDAQ:NCSM) to Sell

Zacks Investment Research cut shares of NCS Multistage (NASDAQ:NCSM) from a hold rating to a sell rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “NCS Multistage Holdings, Inc. provides engineered products and support services for oil and natural gas well completions and field development strategies primarily in the United States and internationally. NCS Multistage Holdings Inc. is headquartered in Houston, Texas. “

Several other research firms also recently weighed in on NCSM. Citigroup lowered their price objective on shares of Extraction Oil & Gas from $8.00 to $7.00 and set a buy rating on the stock in a report on Tuesday, March 12th. ValuEngine downgraded shares of Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Finally, Piper Jaffray Companies downgraded shares of NCS Multistage from an overweight rating to a neutral rating and set a $3.80 price objective on the stock. in a report on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. NCS Multistage presently has a consensus rating of Hold and an average target price of $11.86.



Shares of NCS Multistage stock traded down $0.05 during trading on Wednesday, reaching $3.14. 14,408 shares of the company traded hands, compared to its average volume of 107,530. The company has a quick ratio of 3.72, a current ratio of 5.44 and a debt-to-equity ratio of 0.14. NCS Multistage has a 1-year low of $2.46 and a 1-year high of $17.63. The company has a 50 day moving average price of $3.02. The company has a market cap of $148.88 million, a price-to-earnings ratio of 15.70 and a beta of 2.55.

NCS Multistage (NASDAQ:NCSM) last released its earnings results on Monday, May 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.04). NCS Multistage had a negative net margin of 101.98% and a negative return on equity of 1.11%. The company had revenue of $52.85 million for the quarter, compared to the consensus estimate of $54.65 million. As a group, equities research analysts forecast that NCS Multistage will post -0.24 earnings per share for the current year.

In other news, CFO Ryan Hummer bought 50,000 shares of NCS Multistage stock in a transaction dated Monday, June 3rd. The stock was purchased at an average price of $2.63 per share, for a total transaction of $131,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Franklin Myers bought 40,000 shares of NCS Multistage stock in a transaction dated Friday, May 24th. The stock was purchased at an average price of $2.57 per share, with a total value of $102,800.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 140,000 shares of company stock worth $364,800. Corporate insiders own 11.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gagnon Securities LLC lifted its holdings in NCS Multistage by 5.8% in the 1st quarter. Gagnon Securities LLC now owns 70,133 shares of the company’s stock worth $363,000 after purchasing an additional 3,839 shares in the last quarter. Spark Investment Management LLC purchased a new position in NCS Multistage in the 1st quarter worth approximately $194,000. Bank of Montreal Can lifted its holdings in NCS Multistage by 712.8% in the 1st quarter. Bank of Montreal Can now owns 5,251 shares of the company’s stock worth $27,000 after purchasing an additional 4,605 shares in the last quarter. Foundry Partners LLC lifted its holdings in NCS Multistage by 5.6% in the 1st quarter. Foundry Partners LLC now owns 386,113 shares of the company’s stock worth $2,000,000 after purchasing an additional 20,525 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in NCS Multistage in the 4th quarter worth approximately $4,264,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

About NCS Multistage

NCS Multistage Holdings, Inc provides engineered products and support services for oil and natural gas well completions and field development strategies in the United States, Canada, and internationally. The company's products include casing-installed sliding sleeves, downhole frac isolation assemblies, sand jet perforating products, spotfrac systems, ballshift sliding sleeves, airlock casing buoyancy systems, liner hanger systems, and spectrum tracer services.

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