NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Sees Large Increase in Short Interest

NCS Multistage Holdings, Inc. (NASDAQ:NCSM) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 53,997 shares, a growth of 80.6% from the May 31st total of 29,900 shares. Based on an average trading volume of 49,294 shares, the days-to-cover ratio is currently 1.1 days. Approximately 2.3% of the company’s stock are sold short.

Institutional Trading of NCS Multistage

Large investors have recently modified their holdings of the business. Truffle Hound Capital LLC purchased a new position in NCS Multistage during the fourth quarter worth $1,462,000. Dimensional Fund Advisors LP lifted its position in shares of NCS Multistage by 20.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 21,044 shares of the company’s stock valued at $832,000 after acquiring an additional 3,571 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of NCS Multistage by 5.5% during the fourth quarter. Empowered Funds LLC now owns 19,853 shares of the company’s stock valued at $784,000 after acquiring an additional 1,042 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of NCS Multistage by 3,774.4% during the second quarter. NewEdge Advisors LLC now owns 8,175 shares of the company’s stock valued at $241,000 after acquiring an additional 7,964 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in NCS Multistage by 342.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 863 shares of the company’s stock worth $44,000 after purchasing an additional 668 shares in the last quarter. 70.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on NCSM. Wall Street Zen downgraded shares of NCS Multistage from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research cut shares of NCS Multistage from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 2nd. Finally, Weiss Ratings downgraded shares of NCS Multistage from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

NCS Multistage Stock Down 2.3%

NCSM stock opened at $43.10 on Thursday. The stock has a market capitalization of $112.92 million, a PE ratio of 6.24 and a beta of 0.16. The company has a fifty day moving average of $51.37 and a 200-day moving average of $49.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 5.35. NCS Multistage has a one year low of $29.26 and a one year high of $87.36.

NCS Multistage (NASDAQ:NCSM) last issued its earnings results on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($1.47). The business had revenue of $45.64 million for the quarter, compared to analysts’ expectations of $51.22 million. NCS Multistage had a return on equity of 6.58% and a net margin of 10.78%. As a group, analysts expect that NCS Multistage will post 2.53 EPS for the current year.

NCS Multistage Company Profile

NCS Multistage Holdings, Inc is an oilfield services company that designs, engineers and manufactures downhole completion systems for use in hydraulic fracturing operations across North America. Specializing in multi‐stage stimulation technologies, the company’s product portfolio includes composite frac plugs, open‐hole frac systems and mechanical isolation tools that enable producers to optimize well performance in unconventional reservoirs. Its tools are employed in plug-and-perf operations, horizontal completions and re-entry applications, providing zonal isolation and pressure integrity throughout the fracturing process.

In addition to its core frac plug offerings, NCS Multistage provides a range of complementary services including on-site rig support, tool installation supervision and pressure testing.