Stephen Charles Taylor, a director at Natural Gas Services Group Inc . (NYSE:NGS), has sold a total of 10,600 shares of the company's common stock. The transactions, which took place on November 22 and November 25, were executed at prices ranging from $28.00 to $28.50 per share. The total value of these sales amounts to approximately $297,100.
Following these transactions, Taylor holds 467,787 shares directly and 133,701 shares indirectly through a Rabbi Trust. Additionally, he has 4,195 restricted stock units, each representing the right to receive one share of the company's common stock upon vesting. The sales were conducted under a Rule 10b5-1 trading plan established earlier this year.
In other recent news, Natural Gas Services Group reported a robust financial performance in their Q3 2024 earnings call. The company saw a significant year-over-year increase in rental revenue by 35%, reaching $37.4 million, and a 54% surge in adjusted EBITDA to $18.2 million. Total (EPA:TTEF) revenue reached $40.7 million, with a rental gross margin percentage of 61.3%.
The company revised its 2024 adjusted EBITDA guidance upward, now expecting a range of $67 million to $69 million, indicating a projected 48% growth over the previous fiscal year. Natural Gas Services Group also plans to expand its large horsepower rental fleet by 100,000 horsepower over the next five quarters, showing a strong commitment to growth.
Despite challenges in the natural gas market, the company is focusing on contracts with blue-chip customers to expand its fleet. In addition, it is leveraging data to enhance business operations and has seen a positive upward bias in pricing. These recent developments position Natural Gas Services Group for continued success and shareholder value creation.
InvestingPro Insights
Natural Gas Services Group Inc. (NYSE:NGS) has been experiencing significant momentum in the market, which aligns with the recent insider selling activity. According to InvestingPro data, NGS has shown a strong return of 36.76% over the last month and 76.76% over the past year. The stock is currently trading near its 52-week high, with its price at 97.12% of the highest point reached in the last year.
The company's financial performance has been robust, with revenue growing by 41.72% in the last twelve months to $152.31 million. This growth is reflected in the company's profitability, as evidenced by an EBITDA of $65.08 million, representing a substantial growth of 104.23% over the same period.
InvestingPro Tips suggest that NGS's net income is expected to grow this year, and analysts predict the company will be profitable. These factors may contribute to the stock's current valuation, with a P/E ratio of 21.27 and a price-to-book ratio of 1.36.
It's worth noting that while the stock has shown strong performance, the RSI suggests it may be in overbought territory. This could provide context for the director's decision to sell shares, potentially capitalizing on the stock's recent gains.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for NGS, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.