NCS Multistage (NASDAQ:NCSM) Rating Lowered to Hold at Zacks Investment Research

NCS Multistage (NASDAQ:NCSM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, 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. “

NASDAQ NCSM opened at $29.28 on Thursday. The company has a 50-day moving average price of $29.29. The firm has a market cap of $69.69 million, a price-to-earnings ratio of -7.25 and a beta of 2.10. The company has a quick ratio of 3.18, a current ratio of 5.57 and a debt-to-equity ratio of 0.04. NCS Multistage has a 1-year low of $10.40 and a 1-year high of $47.97.

NCS Multistage (NASDAQ:NCSM) last released its quarterly earnings results on Sunday, May 2nd. The company reported ($1.18) EPS for the quarter, topping the consensus estimate of ($1.40) by $0.22. NCS Multistage had a negative return on equity of 21.64% and a negative net margin of 11.67%. The firm had revenue of $28.51 million for the quarter, compared to analyst estimates of $28.00 million. On average, equities analysts expect that NCS Multistage will post -2.1 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in NCSM. Gagnon Securities LLC acquired a new position in shares of NCS Multistage in the 1st quarter valued at approximately $260,000. Renaissance Technologies LLC bought a new stake in shares of NCS Multistage in the 1st quarter valued at approximately $225,000. Geode Capital Management LLC bought a new stake in shares of NCS Multistage in the 1st quarter valued at approximately $202,000. Morgan Stanley bought a new stake in shares of NCS Multistage in the 1st quarter valued at approximately $39,000. Finally, BlackRock Inc. increased its holdings in shares of NCS Multistage by 23.3% in the 1st quarter. BlackRock Inc. now owns 6,827 shares of the company’s stock valued at $190,000 after acquiring an additional 1,289 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

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. Its products include casing-installed sliding sleeves, downhole frac isolation assemblies, sand jet perforating products, spotfrac systems, accelus sliding sleeves, airlock casing buoyancy systems, liner hanger systems, and spectrum tracer services.

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