NCS Multistage Holdings Inc (NASDAQ:NCSM) Short Interest Update

NCS Multistage Holdings Inc (NASDAQ:NCSM) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,321,600 shares, a growth of 8.6% from the July 31st total of 1,217,500 shares. Based on an average trading volume of 85,200 shares, the days-to-cover ratio is currently 15.5 days. Approximately 10.8% of the company’s stock are sold short.

Shares of NCS Multistage stock traded up $0.40 during trading on Monday, reaching $2.98. The company’s stock had a trading volume of 5,604 shares, compared to its average volume of 43,840. The company has a 50-day moving average price of $2.38 and a two-hundred day moving average price of $3.55. The firm has a market cap of $119.30 million, a PE ratio of 15.00 and a beta of 2.68. NCS Multistage has a fifty-two week low of $1.56 and a fifty-two week high of $16.95. The company has a current ratio of 4.53, a quick ratio of 2.78 and a debt-to-equity ratio of 0.11.

NCS Multistage (NASDAQ:NCSM) last announced its earnings results on Monday, August 5th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.08. The business had revenue of $39.77 million for the quarter, compared to analysts’ expectations of $37.83 million. NCS Multistage had a negative net margin of 112.66% and a negative return on equity of 1.95%. On average, analysts predict that NCS Multistage will post -0.25 earnings per share for the current fiscal year.

In related news, President Marty Stromquist acquired 39,912 shares of the business’s stock in a transaction on Monday, September 9th. The shares were bought at an average price of $2.25 per share, with a total value of $89,802.00. Also, Director Franklin Myers acquired 25,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $2.13 per share, for a total transaction of $53,250.00. The disclosure for this purchase can be found here. Insiders purchased 144,912 shares of company stock valued at $310,752 in the last quarter. 11.90% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can increased its holdings in shares of NCS Multistage by 712.8% in the 1st quarter. Bank of Montreal Can now owns 5,251 shares of the company’s stock valued at $27,000 after acquiring an additional 4,605 shares during the period. Outlook Wealth Advisors LLC acquired a new position in NCS Multistage in the 2nd quarter valued at $37,000. Susquehanna International Group LLP acquired a new position in NCS Multistage in the 2nd quarter valued at $60,000. Spark Investment Management LLC acquired a new position in NCS Multistage in the 1st quarter valued at $194,000. Finally, Gagnon Securities LLC increased its stake in NCS Multistage by 5.8% in the 1st quarter. Gagnon Securities LLC now owns 70,133 shares of the company’s stock valued at $363,000 after buying an additional 3,839 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have weighed in on NCSM. Piper Jaffray Companies cut 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. Zacks Investment Research raised shares of NCS Multistage from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 price objective (down previously from $6.00) on shares of NCS Multistage in a report on Wednesday, August 7th. Finally, ValuEngine raised shares of NCS Multistage from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. NCS Multistage presently has a consensus rating of “Hold” and an average price target of $6.66.

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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