Nine Energy Service Inc (NINE) Gets a Buy Rating from Piper Jaffray


In a report issued on November 16, John Daniel from Piper Jaffray reiterated a Buy rating on Nine Energy Service Inc (NINE), with a price target of $37. The company’s shares opened today at $30.45.

According to TipRanks.com, Daniel is ranked 0 out of 5 stars with an average return of -4.8% and a 31.4% success rate. Daniel covers the Basic Materials sector, focusing on stocks such as Mammoth Energy Services, C&J Energy Services Inc, and Basic Energy Services.

Currently, the analyst consensus on Nine Energy Service Inc is a Moderate Buy with an average price target of $46, a 51.1% upside from current levels. In a report issued on November 14, Raymond James also maintained a Buy rating on the stock with a $46 price target.

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Based on Nine Energy Service Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $13.66 million. In comparison, last year the company had a GAAP net loss of $5.05 million.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock.

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Nine Energy Service, Inc. operates as an oilfield services company, which provides completion, wireline, and cementing solutions. It offers a geographical footprint in the basins that count and the full range of conventional and unconventional completions, wireline, and cementing services. The company was founded in 2011 and is headquartered in Houston, TX.

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