Zacks Investment Research Lowers NCS Multistage (NASDAQ:NCSM) to Sell

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Zacks Investment Research cut shares of NCS Multistage (NASDAQ:NCSM) from a hold rating to a sell rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “NCS Multistage Holdings, Inc. provides engineered products and support services for oil and natural gas well completions and field development strategies primarily in the United States and internationally. NCS Multistage Holdings Inc. is headquartered in Houston, Texas. “

NCSM has been the subject of a number of other reports. Citigroup decreased their target price on shares of Extraction Oil & Gas from $8.00 to $7.00 and set a buy rating for the company in a research report on Tuesday, March 12th. Piper Jaffray Companies downgraded shares of NCS Multistage from an overweight rating to a neutral rating and set a $3.80 target price for the company. in a research report on Tuesday, June 25th. Finally, ValuEngine downgraded shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $11.86.

NASDAQ NCSM opened at $3.18 on Wednesday. The firm’s fifty day simple moving average is $3.03. NCS Multistage has a 1 year low of $2.46 and a 1 year high of $17.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.44 and a quick ratio of 3.72.

NCS Multistage (NASDAQ:NCSM) last posted its earnings results on Monday, May 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). The company had revenue of $52.85 million during the quarter, compared to the consensus estimate of $54.65 million. NCS Multistage had a negative net margin of 101.98% and a negative return on equity of 1.11%. On average, equities analysts predict that NCS Multistage will post -0.24 EPS for the current fiscal year.

In other news, Director Franklin Myers acquired 40,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was acquired at an average price of $2.57 per share, for a total transaction of $102,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ryan Hummer acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average price of $2.61 per share, with a total value of $130,500.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 140,000 shares of company stock valued at $364,800. Insiders own 11.90% of the company’s stock.

Several institutional investors have recently modified their holdings of NCSM. American Century Companies Inc. acquired a new position in shares of NCS Multistage during the 4th quarter worth about $4,264,000. Millennium Management LLC acquired a new position in shares of NCS Multistage during the 4th quarter worth about $693,000. Dimensional Fund Advisors LP raised its position in shares of NCS Multistage by 51.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 288,572 shares of the company’s stock worth $1,469,000 after purchasing an additional 97,755 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of NCS Multistage by 99.0% during the 4th quarter. Bank of New York Mellon Corp now owns 96,822 shares of the company’s stock worth $493,000 after purchasing an additional 48,171 shares during the last quarter. Finally, Spark Investment Management LLC acquired a new position in shares of NCS Multistage during the 1st quarter worth about $194,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

NCS Multistage Company Profile

NCS Multistage Holdings, Inc provides engineered products and support services for oil and natural gas well completions and field development strategies in the United States, Canada, and internationally. The company's products include casing-installed sliding sleeves, downhole frac isolation assemblies, sand jet perforating products, spotfrac systems, ballshift sliding sleeves, airlock casing buoyancy systems, liner hanger systems, and spectrum tracer services.

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