Nine Energy Service, Inc. (NYSE:NINE) Forecasted to Post Q3 2024 Earnings of ($0.30) Per Share

Nine Energy Service, Inc. (NYSE:NINE) – Research analysts at Atb Cap Markets boosted their Q3 2024 earnings estimates for shares of Nine Energy Service in a research report issued on Tuesday, August 6th. Atb Cap Markets analyst W. Syed now anticipates that the company will earn ($0.30) per share for the quarter, up from their previous forecast of ($0.45). The consensus estimate for Nine Energy Service’s current full-year earnings is ($1.45) per share. Atb Cap Markets also issued estimates for Nine Energy Service’s Q4 2024 earnings at ($0.30) EPS, FY2024 earnings at ($1.30) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.30) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.10) EPS, FY2025 earnings at ($0.80) EPS, Q1 2026 earnings at ($0.10) EPS and FY2026 earnings at ($0.40) EPS.

Nine Energy Service Stock Down 0.7 %

Shares of NYSE:NINE opened at $1.40 on Friday. The company’s 50 day moving average price is $1.65 and its two-hundred day moving average price is $2.02. Nine Energy Service has a 12-month low of $1.35 and a 12-month high of $5.30. The firm has a market cap of $49.46 million, a PE ratio of -1.39 and a beta of 3.42.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NINE. Great Valley Advisor Group Inc. acquired a new stake in shares of Nine Energy Service during the 2nd quarter worth approximately $34,000. Quadrature Capital Ltd acquired a new stake in shares of Nine Energy Service during the 4th quarter worth approximately $62,000. Jaffetilchin Investment Partners LLC boosted its position in shares of Nine Energy Service by 86.8% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 59,767 shares of the company’s stock worth $134,000 after acquiring an additional 27,767 shares in the last quarter. Virtu Financial LLC boosted its position in shares of Nine Energy Service by 352.9% during the 1st quarter. Virtu Financial LLC now owns 58,535 shares of the company’s stock worth $131,000 after acquiring an additional 45,611 shares in the last quarter. Finally, Gendell Jeffrey L boosted its position in shares of Nine Energy Service by 6.7% during the 4th quarter. Gendell Jeffrey L now owns 3,313,322 shares of the company’s stock worth $8,880,000 after acquiring an additional 209,407 shares in the last quarter. Institutional investors and hedge funds own 57.61% of the company’s stock.

Insiders Place Their Bets

In other Nine Energy Service news, major shareholder William Monroe bought 152,639 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were purchased at an average price of $1.46 per share, for a total transaction of $222,852.94. Following the transaction, the insider now directly owns 3,152,639 shares in the company, valued at approximately $4,602,852.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 1,413,489 shares of company stock worth $2,235,211 in the last quarter. Corporate insiders own 6.20% of the company’s stock.

About Nine Energy Service

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.