Nine Energy Service, Inc. (NINE): We’ve Only Just Begun

The stock of Nine Energy Service, Inc. (NYSE:NINE) has been Reiterated to Buy by BofA/Merrill in its latest research note that was published on June 25. NINE has given a price target of $21 by BofA/Merrill, with other Wall Street analysts also giving their reports regarding the stock. Goldman, analysts launched coverage of NINE stock with a Buy rating, according to their flash note to investors on March 11. Analysts at Tudor Pickering issued an upgrade fromHold to Buy for the stock, in a research note that dated back to February 05.

Nine’s stock is covered by 10 analysts, with 5 of them rating the stock as Buy. It has been deemed to have strong buy by 4 of the analysts, 1 of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only 5 analysts. 4 of them rated it as strong buy with none of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a sell. The above data shows that NINE has an average analyst rating of 1.60.

Nine Energy Service, Inc., which has current market capitalization of above $300 Million, published its last quarter earnings on March 31, 2019. The company was able to amass $229.71 million in revenue. This figure is $2.78 million more than what analysts had expected which was $226.93 million. During the first quarter of the year, Nine also recorded $0.28 earnings per share (EPS) which is $0.06 above the $0.22 estimated by Thomson Reuter’s analyst, leading to a surprise factor of 25.06%.

NINE surged by $0.39 during the normal trading session on Monday and reaching a high of $10.22 during the day while it closed the day at $9.25. The Nine stock had a low trading volume of 0.22 million shares on that day, which is low compared to the average daily volume of 161.87M shares. NINE has also lost 16.59% of its value over the past 7 days. However, the stock has declined by 56.35% in the 3 months of the year. Over the past six months meanwhile, it has lost 61.62% while it has lost 58.96% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -59.09% from its 3 months high price. However, taking another look at NINE will indicate that it is trading +2.1% away from its 90-day low. Looking at the bigger picture, the Nine Energy Service, Inc. stock has dropped by -77.1% from its 52-week high while it has surged by +2.1% from its 52-week low price.

Nine has around 31 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $94 Billion. The Nine stock is bringing in revenue of over 12 months, which is roughly 230 Billion. Despite all that, Nine Energy Service, Inc. is seeing things progressing very much as their y-o-y quarterly revenue surged by 32.16%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 2.02%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 3.28%. Over the past 20 days, Nine’s Stochastic %K stood at 3.29% while its Stochastic %D was revealed to be 4.86%.