National Energy Services Reunited (NASDAQ:NESR) Shares Up 5.8% – Time to Buy?

National Energy Services Reunited Corp. (NASDAQ:NESR) shares shot up 5.8% during mid-day trading on Monday . The company traded as high as $9.42 and last traded at $9.35. 118,802 shares traded hands during trading, a decline of 9% from the average session volume of 130,467 shares. The stock had previously closed at $8.84.

Analyst Upgrades and Downgrades

Separately, BTIG Research assumed coverage on shares of National Energy Services Reunited in a research report on Friday, October 25th. They set a “buy” rating and a $15.00 target price on the stock.

National Energy Services Reunited Price Performance

The business has a 50 day moving average of $8.99 and a two-hundred day moving average of $9.20. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.10.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.29 earnings per share for the quarter. The firm had revenue of $324.97 million during the quarter.

Institutional Investors Weigh In On National Energy Services Reunited

An institutional investor recently bought a new position in National Energy Services Reunited stock. HITE Hedge Asset Management LLC purchased a new position in National Energy Services Reunited Corp. (NASDAQ:NESR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 703,162 shares of the company’s stock, valued at approximately $6,645,000. HITE Hedge Asset Management LLC owned approximately 0.74% of National Energy Services Reunited as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 15.55% of the company’s stock.

About National Energy Services Reunited

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company’s Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.