Why These Energy Stocks are Gaining This Week

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1. Nine Energy Service, Inc. (NYSE:NINE)

Share Price Gains Between Mar. 3 and Mar. 10: 20.2%

Nine Energy Service, Inc. (NYSE:NINE) operates as an onshore completion services provider that targets unconventional oil and gas resource development in North American basins and internationally.

Shares of Nine Energy Service, Inc. (NYSE:NINE) surged last week after the company announced better-than-expected results for Q4 2024. Nine reported a loss per share of $0.22 against market estimates of $0.24. The company’s revenue of $141.43 million also beat expectations by $6.43 million and came in the upper end of the provided guidance range. The company managed to increase its Q4 cementing revenue by approx. 7% and Q4 completion tool revenue by around 6% QoQ despite flat average US rig count.

Overall, Nine Energy Service, Inc. (NYSE:NINE) ranks first on our list of the energy stocks that are gaining this week. While we acknowledge the potential for NINE, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NINE but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

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