NCS Multistage Holdings, Inc. (NCSM) Short Interest Up 31.5% in October
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.
TRADEMARK VIOLATION NOTICE: “NCS Multistage Holdings, Inc. (NCSM) Short Interest Up 31.5% in October” was posted by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2017/10/28/ncs-multistage-holdings-inc-ncsm-short-interest-up-31-5-in-october.html.
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.
Receive News & Ratings for NCS Multistage Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NCS Multistage Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.