Atb Cap Markets Comments on Nine Energy Service, Inc.’s FY2024 Earnings (NYSE:NINE)

Nine Energy Service, Inc. (NYSE:NINE) – Equities researchers at Atb Cap Markets lifted their FY2024 earnings per share (EPS) estimates for shares of Nine Energy Service in a report issued on Tuesday, October 1st. Atb Cap Markets analyst W. Syed now expects that the company will earn ($1.23) per share for the year, up from their prior forecast of ($1.30). The consensus estimate for Nine Energy Service’s current full-year earnings is ($1.30) per share. Atb Cap Markets also issued estimates for Nine Energy Service’s Q2 2025 earnings at ($0.24) EPS, Q3 2025 earnings at ($0.15) EPS, FY2025 earnings at ($0.79) EPS, Q1 2026 earnings at ($0.16) EPS, Q2 2026 earnings at ($0.09) EPS, Q3 2026 earnings at ($0.06) EPS and FY2026 earnings at ($0.37) EPS.

Nine Energy Service Stock Performance

NINE opened at $1.22 on Friday. The company has a market capitalization of $43.10 million, a P/E ratio of -1.21 and a beta of 3.28. The company has a 50-day moving average of $1.29 and a 200-day moving average of $1.73. Nine Energy Service has a 1-year low of $1.04 and a 1-year high of $4.48.

Nine Energy Service (NYSE:NINE) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.03). The company had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $134.00 million.

Institutional Trading of Nine Energy Service

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC bought a new position in shares of Nine Energy Service in the 2nd quarter worth about $31,000. XTX Topco Ltd acquired a new stake in Nine Energy Service during the second quarter worth about $32,000. Great Valley Advisor Group Inc. bought a new position in Nine Energy Service in the second quarter worth about $34,000. Quadrature Capital Ltd acquired a new position in Nine Energy Service in the fourth quarter valued at approximately $62,000. Finally, Virtu Financial LLC boosted its stake in Nine Energy Service by 352.9% in the first quarter. Virtu Financial LLC now owns 58,535 shares of the company’s stock valued at $131,000 after acquiring an additional 45,611 shares during the period. 57.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder William Monroe acquired 470,362 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $1.58 per share, for a total transaction of $743,171.96. Following the completion of the purchase, the insider now directly owns 3,900,000 shares of the company’s stock, valued at $6,162,000. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 32,036 shares of company stock worth $45,697. Corporate insiders own 6.20% of the company’s stock.

About Nine Energy Service

Nine Energy Service, Inc operates as an onshore completion services provider that targets unconventional oil and gas resource development in North American basins and internationally. It offers cementing services, including blending high-grade cement and water with various solid and liquid additives to create a cement slurry that is pumped between the casing and the wellbore of the well.