National Energy Services Reunited (NASDAQ:NESR) Sees Strong Trading Volume – Here’s What Happened

Shares of National Energy Services Reunited Corp. (NASDAQ:NESR) saw an uptick in trading volume on Wednesday . 115,059 shares traded hands during trading, a decline of 8% from the previous session’s volume of 125,043 shares.The stock last traded at $8.94 and had previously closed at $8.73.

Analysts Set New Price Targets

A number of equities analysts have commented on NESR shares. BTIG Research started coverage on National Energy Services Reunited in a research note on Friday, October 25th. They issued a “buy” rating and a $15.00 price target on the stock. 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 price target on the stock.

National Energy Services Reunited Price Performance

The firm has a fifty day simple moving average of $8.70 and a two-hundred day simple moving average of $9.01. 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 position in National Energy Services Reunited Corp. (NASDAQ:NESR) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 703,162 shares of the company’s stock, valued at approximately $6,645,000. HITE Hedge Asset Management LLC owned 0.74% of National Energy Services Reunited at the end of the most recent quarter. 15.55% of the stock is owned by institutional investors.

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.