National Energy Services Reunited (NASDAQ:NESR) Stock Price Up 1.6% – Still a Buy?

Shares of National Energy Services Reunited Corp. (NASDAQ:NESR) traded up 1.6% during trading on Monday . The stock traded as high as $8.87 and last traded at $8.79. 102,162 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 129,971 shares. The stock had previously closed at $8.65.

Analyst Ratings Changes

Several brokerages have recently weighed in on NESR. JPMorgan Chase & Co. started coverage on shares of National Energy Services Reunited in a report on Friday, December 6th. They issued an “overweight” rating and a $13.00 target price on the stock. BTIG Research assumed coverage on 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 fifty day simple moving average of $8.83 and a 200 day simple moving average of $9.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.10 and a quick ratio of 0.91.

Institutional Trading of National Energy Services Reunited

A hedge fund recently bought a new stake in National Energy Services Reunited stock. HITE Hedge Asset Management LLC bought a new stake in National Energy Services Reunited Corp. (NASDAQ:NESR) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 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 at the end of the most recent quarter. 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.