Clarity Financial LLC Lowers Stake in Nine Energy Service, Inc. (NYSE:NINE)

Clarity Financial LLC decreased its position in shares of Nine Energy Service, Inc. (NYSE:NINE) by 20.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,954,670 shares of the company’s stock after selling 513,334 shares during the quarter. Clarity Financial LLC’s holdings in Nine Energy Service were worth $2,189,000 at the end of the most recent quarter.

Separately, XTX Topco Ltd purchased a new stake in Nine Energy Service in the 2nd quarter valued at about $32,000. 57.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Nine Energy Service news, major shareholder William Monroe acquired 435,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was bought at an average cost of $1.19 per share, for a total transaction of $517,650.00. Following the completion of the purchase, the insider now directly owns 4,335,000 shares in the company, valued at $5,158,650. This represents a 11.15 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Guy Sirkes sold 35,380 shares of Nine Energy Service stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $1.67, for a total transaction of $59,084.60. Following the transaction, the insider now owns 156,966 shares in the company, valued at $262,133.22. The trade was a 18.39 % decrease in their position. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by insiders.

Nine Energy Service Price Performance

Shares of NINE stock opened at $1.22 on Friday. The firm’s 50-day simple moving average is $1.28 and its 200-day simple moving average is $1.28. Nine Energy Service, Inc. has a 1-year low of $0.75 and a 1-year high of $3.26. The firm has a market cap of $51.47 million, a P/E ratio of -1.01 and a beta of 3.54.

Nine Energy Service Company Profile

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.