NCS Multistage Holdings, Inc. (NASDAQ:NCSM) saw a significant increase in short interest in October. As of October 13th, there was short interest totalling 1,184,761 shares, an increase of 31.5% from the September 29th total of 900,765 shares. Currently, 11.3% of the company’s stock are short sold. Based on an average daily volume of 91,642 shares, the days-to-cover ratio is currently 12.9 days.

NCS Multistage Holdings (NASDAQ:NCSM) opened at 20.99 on Friday. The company has a 50 day moving average price of $22.09 and a 200 day moving average price of $22.22. NCS Multistage Holdings has a 1-year low of $10.19 and a 1-year high of $29.07. The firm has a market cap of $914.22 million and a PE ratio of 954.09.

NCS Multistage Holdings (NASDAQ:NCSM) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.09). The firm had revenue of $36.86 million for the quarter, compared to the consensus estimate of $29.14 million. On average, equities research analysts forecast that NCS Multistage Holdings will post $0.34 earnings per share for the current year.

NCSM has been the topic of a number of recent research reports. Royal Bank Of Canada restated a “buy” rating and set a $30.00 price objective on shares of NCS Multistage Holdings in a research note on Thursday, July 20th. Zacks Investment Research upgraded NCS Multistage Holdings from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Wednesday, September 6th. Finally, Citigroup Inc. set a $32.00 price objective on NCS Multistage Holdings and gave the stock a “buy” rating in a research note on Thursday, October 5th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. NCS Multistage Holdings has an average rating of “Buy” and a consensus price target of $28.83.

A number of hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. bought a new stake in NCS Multistage Holdings during the third quarter valued at about $7,906,000. Strs Ohio boosted its holdings in NCS Multistage Holdings by 131.3% during the third quarter. Strs Ohio now owns 7,400 shares of the company’s stock valued at $178,000 after acquiring an additional 4,200 shares during the period. California State Teachers Retirement System bought a new stake in NCS Multistage Holdings during the second quarter valued at about $494,000. The Manufacturers Life Insurance Company bought a new stake in NCS Multistage Holdings during the second quarter valued at about $211,000. Finally, State Street Corp bought a new stake in NCS Multistage Holdings during the second quarter valued at about $3,523,000. Institutional investors own 91.57% of the company’s stock.

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About NCS Multistage Holdings

NCS Multistage Holdings, Inc is a provider of engineered products and support services for oil and natural gas well completions and field development strategies. The Company’s products and services include Multistage Unlimited, casing-installed sliding sleeves, downhole frac isolation assembly, AirLock casing buoyancy system and liner hanger systems.

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