NCS Multistage Holdings Inc (NCSM) Sees Significant Increase in Short Interest

NCS Multistage Holdings Inc (NASDAQ:NCSM) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 1,229,651 shares, an increase of 32.8% from the January 12th total of 925,632 shares. Based on an average daily volume of 164,265 shares, the days-to-cover ratio is presently 7.5 days. Approximately 11.4% of the shares of the company are sold short.

Several hedge funds have recently modified their holdings of the company. FMR LLC acquired a new position in shares of NCS Multistage in the 2nd quarter valued at about $55,521,000. Boston Partners acquired a new position in shares of NCS Multistage in the 3rd quarter valued at about $22,021,000. Jennison Associates LLC lifted its holdings in shares of NCS Multistage by 32.1% in the 4th quarter. Jennison Associates LLC now owns 662,813 shares of the company’s stock valued at $9,770,000 after buying an additional 161,067 shares during the period. Vanguard Group Inc. acquired a new position in shares of NCS Multistage in the 2nd quarter valued at about $13,697,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of NCS Multistage by 58.4% in the 4th quarter. Victory Capital Management Inc. now owns 519,924 shares of the company’s stock valued at $7,664,000 after buying an additional 191,622 shares during the period. 93.69% of the stock is owned by institutional investors and hedge funds.

NCS Multistage (NASDAQ NCSM) opened at $14.31 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.29 and a current ratio of 3.31. NCS Multistage has a fifty-two week low of $13.85 and a fifty-two week high of $29.07.

NCS Multistage (NASDAQ:NCSM) last issued its quarterly earnings data on Monday, November 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.03). The company had revenue of $55.96 million during the quarter, compared to analyst estimates of $58.92 million. NCS Multistage had a net margin of 2.42% and a return on equity of 2.22%. research analysts anticipate that NCS Multistage will post 0.12 EPS for the current fiscal year.

Several research firms have weighed in on NCSM. Zacks Investment Research upgraded NCS Multistage from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Wednesday, November 1st. Royal Bank of Canada set a $30.00 price target on NCS Multistage and gave the company a “buy” rating in a research note on Sunday, November 12th. Raymond James Financial reiterated an “outperform” rating and set a $30.00 price target (up previously from $23.00) on shares of NCS Multistage in a research note on Thursday, January 18th. BidaskClub upgraded NCS Multistage from a “sell” rating to a “hold” rating in a research note on Friday, January 5th. Finally, ValuEngine downgraded NCS Multistage from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.86.

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NCS Multistage Company Profile

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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