Natural Gas Services Group, Inc. (NYSE:NGS) Sees Large Decline in Short Interest

Natural Gas Services Group, Inc. (NYSE:NGS) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 159,100 shares, a decrease of 44.3% from the February 13th total of 285,500 shares. Based on an average trading volume of 78,700 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.6% of the company’s shares are short sold.

Insider Activity at Natural Gas Services Group

In related news, Director Stephen Charles Taylor sold 19,400 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $28.80, for a total value of $558,720.00. Following the completion of the sale, the director now owns 438,387 shares in the company, valued at approximately $12,625,545.60. This represents a 4.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. MetLife Investment Management LLC boosted its holdings in Natural Gas Services Group by 129.1% in the third quarter. MetLife Investment Management LLC now owns 6,325 shares of the oil and gas company’s stock worth $121,000 after purchasing an additional 3,564 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Natural Gas Services Group during the 4th quarter worth about $128,000. Wells Fargo & Company MN increased its holdings in shares of Natural Gas Services Group by 31.5% during the 4th quarter. Wells Fargo & Company MN now owns 6,022 shares of the oil and gas company’s stock valued at $161,000 after acquiring an additional 1,443 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Natural Gas Services Group by 54.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,647 shares of the oil and gas company’s stock valued at $165,000 after acquiring an additional 3,056 shares in the last quarter. Finally, FCA Corp TX acquired a new stake in Natural Gas Services Group in the 4th quarter worth approximately $188,000. Institutional investors and hedge funds own 65.62% of the company’s stock.

Natural Gas Services Group Stock Up 1.7 %

Shares of NGS traded up $0.38 during midday trading on Friday, reaching $22.57. 33,379 shares of the stock were exchanged, compared to its average volume of 74,076. The company has a market cap of $281.90 million, a price-to-earnings ratio of 17.63 and a beta of 1.13. The firm has a 50 day simple moving average of $26.02 and a 200-day simple moving average of $23.91. Natural Gas Services Group has a 12-month low of $16.70 and a 12-month high of $29.74. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.65.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Natural Gas Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

About Natural Gas Services Group

Natural Gas Services Group, Inc provides natural gas compression equipment and services to the energy industry in the United States. It engineers and fabricates, operates, rents, and maintains natural gas compressors for oil and natural gas production and plant facilities. It also designs, fabricates, and assembles compressor units for rental or sale; and designs, manufactures, and sells a line of reciprocating natural gas compressor frames, cylinders, and parts.