Nuverra Environmental Solutions Inc (NYSEAMERICAN:NES) major shareholder Gates Capital Management, L.P. purchased 377,800 shares of the company’s stock in a transaction that occurred on Thursday, October 11th. The stock was acquired at an average cost of $9.92 per share, for a total transaction of $3,747,776.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
NYSEAMERICAN NES traded up $0.78 during trading hours on Friday, hitting $11.70. The company’s stock had a trading volume of 12,100 shares, compared to its average volume of 17,444. Nuverra Environmental Solutions Inc has a 52 week low of $8.80 and a 52 week high of $26.50.
Nuverra Environmental Solutions (NYSEAMERICAN:NES) last announced its quarterly earnings results on Monday, August 6th. The company reported ($0.78) earnings per share for the quarter. The company had revenue of $48.95 million for the quarter.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp bought a new position in Nuverra Environmental Solutions in the 2nd quarter valued at about $122,000. Shepherd Kaplan Krochuk LLC increased its stake in Nuverra Environmental Solutions by 196.3% in the 2nd quarter. Shepherd Kaplan Krochuk LLC now owns 40,000 shares of the company’s stock valued at $480,000 after buying an additional 26,500 shares during the last quarter. BlackRock Inc. purchased a new stake in Nuverra Environmental Solutions in the 2nd quarter valued at about $811,000. Finally, Millennium Management LLC purchased a new stake in Nuverra Environmental Solutions in the 1st quarter valued at about $2,020,000.
About Nuverra Environmental Solutions
Nuverra Environmental Solutions, Inc provides full-cycle environmental solutions to customers focused on the development and ongoing production of oil and natural gas from shale formations in the United States. The company offers environmental solutions and wellsite logistics management, including the delivery, collection, treatment, and disposal of solid and liquid materials used in the development of unconventional oil and natural gas fields in the Bakken and Eagle Ford Shale areas, as well as the Haynesville, Marcellus, and Utica areas.
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