DNOW Inc. (NYSE:DNOW) Short Interest Update

DNOW Inc. (NYSE:DNOW) was the recipient of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 3,150,000 shares, a decline of 5.7% from the November 30th total of 3,340,000 shares. Currently, 3.0% of the shares of the company are sold short. Based on an average daily volume of 754,100 shares, the days-to-cover ratio is currently 4.2 days.

DNOW Price Performance

DNOW stock traded up $0.10 on Wednesday, reaching $13.01. The company’s stock had a trading volume of 335,781 shares, compared to its average volume of 906,503. DNOW has a 52 week low of $9.44 and a 52 week high of $15.65. The company has a market capitalization of $1.38 billion, a P/E ratio of 6.96 and a beta of 1.50. The firm has a fifty day moving average of $13.82 and a two-hundred day moving average of $13.36.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. DNOW had a net margin of 8.70% and a return on equity of 8.90%. The business had revenue of $606.00 million for the quarter, compared to analysts’ expectations of $614.92 million. During the same period in the previous year, the business earned $0.25 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. As a group, equities analysts expect that DNOW will post 0.81 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Paul M. Coppinger sold 26,186 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $15.35, for a total transaction of $401,955.10. Following the completion of the transaction, the director now owns 56,568 shares in the company, valued at $868,318.80. The trade was a 31.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DNOW

A number of institutional investors and hedge funds have recently modified their holdings of DNOW. Allspring Global Investments Holdings LLC lifted its stake in DNOW by 1,062.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 2,561 shares in the last quarter. KBC Group NV increased its position in shares of DNOW by 45.5% in the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,190 shares in the last quarter. Quarry LP raised its holdings in shares of DNOW by 75.6% during the second quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 1,908 shares during the period. nVerses Capital LLC purchased a new stake in shares of DNOW in the 3rd quarter valued at approximately $78,000. Finally, Quest Partners LLC acquired a new position in DNOW in the 2nd quarter worth approximately $94,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

About DNOW

DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as artificial lift systems, coatings, and miscellaneous expendable items.