Essex Investment Management Co. LLC Buys Shares of 112,980 Nine Energy Service, Inc. (NYSE:NINE)

Essex Investment Management Co. LLC purchased a new position in Nine Energy Service, Inc. (NYSE:NINE) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 112,980 shares of the company’s stock, valued at approximately $127,000.

Separately, Legato Capital Management LLC purchased a new stake in Nine Energy Service in the 4th quarter worth approximately $35,000. 57.61% of the stock is currently owned by hedge funds and other institutional investors.

Nine Energy Service Price Performance

Shares of NYSE:NINE opened at $1.30 on Monday. The firm has a fifty day moving average price of $1.22 and a two-hundred day moving average price of $1.20. The company has a market cap of $54.86 million, a price-to-earnings ratio of -1.08 and a beta of 3.58. Nine Energy Service, Inc. has a one year low of $0.75 and a one year high of $3.26.

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.