Nine Energy Service (NYSE:NINE) Stock Price Up 16.3% – Here’s What Happened

Nine Energy Service, Inc. (NYSE:NINE)’s stock price shot up 16.3% during mid-day trading on Friday . The stock traded as high as $1.59 and last traded at $1.43. 7,669,398 shares were traded during trading, an increase of 48% from the average session volume of 5,176,599 shares. The stock had previously closed at $1.23.

Nine Energy Service Stock Up 16.3 %

The company has a market capitalization of $60.58 million, a PE ratio of -1.19 and a beta of 3.54. The business has a 50 day simple moving average of $1.21 and a 200 day simple moving average of $1.32.

Insiders Place Their Bets

In related news, insider Ann G. Fox sold 60,358 shares of Nine Energy Service stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $1.00, for a total transaction of $60,358.00. Following the completion of the sale, the insider now owns 697,935 shares of the company’s stock, valued at $697,935. The trade was a 7.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Guy Sirkes sold 35,380 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $1.67, for a total transaction of $59,084.60. Following the completion of the transaction, the insider now owns 156,966 shares in the company, valued at approximately $262,133.22. This trade represents a 18.39 % decrease in their position. The disclosure for this sale can be found here. 6.20% of the stock is owned by insiders.

Institutional Trading of Nine Energy Service

A hedge fund recently bought a new stake in Nine Energy Service stock. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Nine Energy Service, Inc. (NYSE:NINE) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 18,460 shares of the company’s stock, valued at approximately $31,000. Vanguard Personalized Indexing Management LLC owned 0.05% of Nine Energy Service at the end of the most recent reporting period. Institutional investors own 57.61% 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.