NCS Multistage Holdings Inc (NASDAQ:NCSM) Short Interest Up 22.8% in May

NCS Multistage Holdings Inc (NASDAQ:NCSM) was the target of a significant growth in short interest in May. As of May 31st, there was short interest totalling 1,590,200 shares, a growth of 22.8% from the April 30th total of 1,295,200 shares. Approximately 15.1% of the company’s stock are short sold. Based on an average daily volume of 139,300 shares, the days-to-cover ratio is currently 11.4 days.

In other NCS Multistage news, CFO Ryan Hummer purchased 50,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were acquired at an average price of $2.63 per share, for a total transaction of $131,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Franklin Myers purchased 40,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were acquired at an average price of $2.57 per share, for a total transaction of $102,800.00. The disclosure for this purchase can be found here. Insiders acquired 140,000 shares of company stock valued at $364,800 over the last quarter. 11.90% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in NCS Multistage by 20.2% in the third quarter. Vanguard Group Inc. now owns 930,339 shares of the company’s stock valued at $15,360,000 after buying an additional 156,341 shares during the last quarter. Foundry Partners LLC boosted its position in NCS Multistage by 5.6% in the first quarter. Foundry Partners LLC now owns 386,113 shares of the company’s stock valued at $2,000,000 after buying an additional 20,525 shares during the last quarter. Energy Opportunities Capital Management LLC purchased a new stake in NCS Multistage in the fourth quarter valued at approximately $76,000. Paloma Partners Management Co purchased a new stake in NCS Multistage in the fourth quarter valued at approximately $64,000. Finally, Dimensional Fund Advisors LP boosted its position in NCS Multistage by 51.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 288,572 shares of the company’s stock valued at $1,469,000 after buying an additional 97,755 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. ValuEngine upgraded NCS Multistage from a “sell” rating to a “hold” rating in a research note on Monday, March 11th. Zacks Investment Research lowered NCS Multistage from a “hold” rating to a “sell” rating in a research note on Thursday, May 16th. Piper Jaffray Companies set a $6.00 price target on NCS Multistage and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Citigroup dropped their price target on NCS Multistage from $6.50 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, March 12th. Finally, BidaskClub upgraded NCS Multistage from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.30.

NASDAQ NCSM traded up $0.22 during trading hours on Thursday, reaching $3.44. The stock had a trading volume of 3,850 shares, compared to its average volume of 148,686. The firm has a market cap of $150.28 million, a P/E ratio of 16.70 and a beta of 2.16. NCS Multistage has a 52-week low of $2.46 and a 52-week high of $17.63. 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 (NASDAQ:NCSM) last issued its earnings results on Monday, May 6th. The company reported ($0.04) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.04). The firm had revenue of $52.85 million for the quarter, compared to analyst estimates of $54.65 million. NCS Multistage had a negative return on equity of 1.11% and a negative net margin of 101.98%. As a group, research analysts expect that NCS Multistage will post -0.23 earnings per share for the current year.

NCS Multistage Company Profile

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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