Long Position on NINE @ $36.13 on 10/29/2018 (Momentum)

Nine Energy Service, Inc. (NINE) operates as an onshore completion and production services provider that targets unconventional oil and gas resource development in North America.

It operates in two segments, Completion Solutions and Production Solutions.

The Completion Solutions segment offers cementing services; completion tools, including liner hangers and accessories, fracture isolation packers, frac sleeves, stage one prep tools, fully-composite and dissolvable frac plugs, and specialty open hole float equipment and centralizers; a portfolio of completion technologies; wireline services; and coiled tubing services.

The Production Solutions segment provides production enhancement and well workover services through well servicing rigs and ancillary equipment. This segment offers well services to its customers through a fleet of approximately 100 rigs. 

Shares of this recent IPO have formed a bullish "cup and handle" and prices are expected to move higher out of this formtion.

Entry Point:  $36.13

Stop Loss:  $34.30

Trading Range: $22.23 - $40.39

Target Price: $39.75

Updates

4/5/2019 12:28:47 PM

NINE closed at $24.30

Position closed on 4/5/2019 at price of $24.30 with a -32.74% loss in 158 days.

Back to Portfolio