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 note published 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. Piper Jaffray Companies downgraded shares of NCS Multistage from an overweight rating to a neutral rating and set a $3.80 price target for the company. in a research note on Tuesday, June 25th. Citigroup decreased their price target on shares of Extraction Oil & Gas from $8.00 to $7.00 and set a buy rating for the company in a research note on Tuesday, March 12th. Finally, ValuEngine downgraded shares of Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. 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 company’s stock. The stock presently has an average rating of Hold and a consensus target price of $11.86.

NCS Multistage stock opened at $3.18 on Wednesday. The company’s 50 day moving average is $3.03. 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 fifty-two week low of $2.46 and a fifty-two week high of $17.63.

NCS Multistage (NASDAQ:NCSM) last posted its quarterly earnings results on Monday, May 6th. The company reported ($0.04) earnings per share for the quarter, meeting the Thomson Reuters’ 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 firm had revenue of $52.85 million during the quarter, compared to the consensus estimate of $54.65 million. On average, sell-side analysts predict that NCS Multistage will post -0.24 EPS for the current year.

In other NCS Multistage news, CFO Ryan Hummer acquired 50,000 shares of NCS Multistage stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average price of $2.61 per share, with a total value of $130,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Franklin Myers acquired 40,000 shares of NCS Multistage stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average cost of $2.57 per share, with a total value of $102,800.00. The disclosure for this purchase can be found here. Insiders purchased 140,000 shares of company stock valued at $364,800 in the last three months. 11.90% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Bank of Montreal Can raised its stake in NCS Multistage by 712.8% in the first quarter. Bank of Montreal Can now owns 5,251 shares of the company’s stock worth $27,000 after buying an additional 4,605 shares in the last quarter. Paloma Partners Management Co bought a new position in NCS Multistage in the fourth quarter worth approximately $64,000. Rhumbline Advisers bought a new position in NCS Multistage in the fourth quarter worth approximately $73,000. Energy Opportunities Capital Management LLC purchased a new position in NCS Multistage in the fourth quarter worth $76,000. Finally, Spark Investment Management LLC purchased a new position in NCS Multistage in the first quarter worth $194,000. 90.77% of the stock is owned by institutional investors.

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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