Short Interest in NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Grows By 142.4%

NCS Multistage Holdings, Inc. (NASDAQ:NCSM) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totaling 43,865 shares, a growth of 142.4% from the April 30th total of 18,098 shares. Based on an average daily trading volume, of 49,001 shares, the days-to-cover ratio is presently 0.9 days. Currently, 1.9% of the company’s stock are sold short.

NCS Multistage Stock Performance

NASDAQ NCSM traded down $0.78 during trading hours on Friday, reaching $42.38. The company’s stock had a trading volume of 14,026 shares, compared to its average volume of 33,597. The company has a current ratio of 5.35, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. NCS Multistage has a 52 week low of $28.64 and a 52 week high of $87.36. The business has a 50-day simple moving average of $59.27 and a 200 day simple moving average of $47.69. The stock has a market cap of $111.04 million, a PE ratio of 6.13 and a beta of 0.25.

NCS Multistage (NASDAQ:NCSM) last announced its quarterly 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 analyst estimates of $51.22 million. NCS Multistage had a return on equity of 6.58% and a net margin of 10.78%. Equities research analysts predict that NCS Multistage will post 3.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NCSM shares. Wall Street Zen lowered NCS Multistage from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research downgraded shares of NCS Multistage from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Weiss Ratings lowered shares of NCS Multistage from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, NCS Multistage currently has an average rating of “Moderate Buy”.

Institutional Trading of NCS Multistage

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its position in shares of NCS Multistage by 397,500.0% in the first quarter. Bank of America Corp DE now owns 3,976 shares of the company’s stock worth $246,000 after acquiring an additional 3,975 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of NCS Multistage in the first quarter worth $372,000. Renaissance Technologies LLC raised its stake in shares of NCS Multistage by 17.5% in the first quarter. Renaissance Technologies LLC now owns 12,744 shares of the company’s stock valued at $788,000 after purchasing an additional 1,900 shares in the last quarter. Walleye Capital LLC acquired a new stake in NCS Multistage in the 1st quarter valued at $575,000. Finally, Dimensional Fund Advisors LP increased its holdings in NCS Multistage by 14.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 23,993 shares of the company’s stock valued at $1,484,000 after purchasing an additional 2,949 shares in the last quarter. 70.91% of the stock is owned by hedge funds and other institutional investors.

About NCS Multistage

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.