HOUSTON, TX – In a recent transaction filed with the Securities and Exchange Commission, Theodore R. Moore, Senior Vice President, General Counsel and Secretary of Nine Energy Service, Inc. (NYSE:), sold 11,822 shares of the Company’s common stock. The sale was made at an average price of $1.54 per share, for a total transaction value of $18,205.

The transaction occurred on August 8, 2024, and was reported to the SEC the following day. Following the sale, Moore’s direct interest in Nine Energy Service, Inc. is 190,719 shares of common stock. The details of the sale indicate that it was a direct sale of shares by the CEO, with no indication of a share exchange.

This financial move is part of the routine disclosures that executives of publicly traded companies must make regarding their stock transactions. These disclosures provide transparency and ensure that all market participants have access to the same information.

Investors and market observers often monitor such insider transactions to gain insight into the company’s performance and the confidence level of its executives. However, it is important to note that such transactions are not necessarily a prediction of the company’s future performance and may be motivated by a variety of personal financial considerations.

Nine Energy Service, Inc., based in Houston, Texas, is in the oil and gas field services industry and is known for its specialty services such as well completions and wireline services. The company has not commented on this recent stock transaction by one of its top executives.

In other recent news, Nine Energy Service announced its second quarter 2024 results, reporting revenue of $132.4 million, in line with its previous guidance. The company also reported adjusted EBITDA of $9.7 million for the quarter. However, the company experienced a decline in rig count and lower pricing in the cement business, resulting in diluted earnings per share of -$0.40.

These recent developments include Nine Energy Service’s forecast for a stable third quarter, with revenue expected to be between $127 million and $137 million. Despite industry challenges, the company maintains its medium- and long-term positive outlook for the gas market, which currently accounts for 30% to 35% of its total revenue.

In addition, Nine Energy Service is prepared for a possible increase in exploration and production activities in the second half of 2025. The company is also considering expanding its services to include consulting in the refractometer market, which recorded a strong quarter. In addition, the company experienced a decrease in capital expenditure requirements due to more efficient equipment maintenance.

InvestingPro Insights

Given the recent insider stock transaction at Nine Energy Service, Inc., it makes sense to consider the company’s financial health and market performance. According to real-time data from InvestingPro, Nine Energy Service operates with a significant debt load and has not been profitable over the past twelve months (as of Q2 2024). This is reflected in its negative price-to-earnings (P/E) ratio of -1.27 and a -15.13% decline in revenue growth over the same period. The company’s stock has also experienced a significant decline, with the one-week total price return showing a change of -17.16%.

Tips from InvestingPro suggest that Nine Energy Service share prices are quite volatile and that the stock is trading near its 52-week low. This could be of interest to investors looking for potential buying opportunities or wanting to assess the risk associated with the stock. Although the company has a high shareholder return, analysts do not expect Nine Energy Service to be profitable this year.

For investors considering Nine Energy Service as part of their portfolio, it is important to weigh these factors alongside insider trading activity. With the share price having fallen significantly over the past year (-71.72% total price return over one year), the recent sale by the Senior Vice President may draw attention to the company’s current valuation and its future prospects. For more insights and additional InvestingPro tips on Nine Energy Service, visit https://www.investing.com/pro/NINE where you will find 11 more tips to help you with your investment decisions.

Highlights of InvestingPro data:

• Market capitalization: $57.63 million
• Revenue (last twelve months from Q2 2024): USD 559.21 million
• Price, previous close: 1.41 USD

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