12 Popular Penny Stocks on Robinhood to Watch

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8. Nine Energy Service Inc. (NYSE:NINE)

No of hedge fund holders: 6

Nine Energy Service Inc. (NYSE:NINE) is a leading onshore completion services provider specializing in unconventional oil and gas resource development across North America and beyond.

Nine Energy Service, Inc. (NYSE:NINE) is making significant changes to its Board of Directors, reducing its size from eight to six members and altering its composition by year-end. The changes come as part of the Company’s strategic priorities, following unanimous agreement from the Board. The company believes these changes will bring fresh perspectives and greater operational leadership to the table.

For Q4 2024, the company posted revenues of $141.4 million, a net loss of $(8.8) million, or $(0.22) per share, and adjusted EBITDA of $14.1 million. Despite a flat average US rig count, Q4 revenue showed a ~2% quarter-over-quarter increase, driven by a 7% increase in cementing revenue and a 6% increase in completion tool revenue. Nine Energy Service Inc. (NYSE:NINE) ended the year with total liquidity of $52.1 million, aided by a reduction in capital expenditures to $14.6 million. It is among the best penny stocks on Robinhood.

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