National Energy Services Reunited (NASDAQ:NESR) Trading 6.6% Higher – Should You Buy?

National Energy Services Reunited Corp. (NASDAQ:NESR)’s stock price traded up 6.6% during mid-day trading on Wednesday . The stock traded as high as $8.49 and last traded at $8.10. 11,330 shares changed hands during trading, a decline of 94% from the average session volume of 175,803 shares. The stock had previously closed at $7.60.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NESR shares. Barclays reiterated an “overweight” rating and issued a $16.00 price target on shares of National Energy Services Reunited in a research report on Friday, January 31st. JPMorgan Chase & Co. started coverage on shares of National Energy Services Reunited in a research note on Friday, December 6th. They issued an “overweight” rating and a $13.00 price objective on the stock. Finally, Benchmark assumed coverage on shares of National Energy Services Reunited in a report on Tuesday, January 21st. They issued a “buy” rating and a $15.00 target price on the stock.

National Energy Services Reunited Trading Up 7.3 %

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.10 and a quick ratio of 0.91. The business’s 50 day moving average is $8.90 and its two-hundred day moving average is $8.99.

National Energy Services Reunited (NASDAQ:NESR) last released its earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. On average, analysts anticipate that National Energy Services Reunited Corp. will post 1.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Encompass Capital Advisors LLC purchased a new stake in National Energy Services Reunited in the fourth quarter worth $79,108,000. SCF Partners Inc. purchased a new position in shares of National Energy Services Reunited during the 4th quarter worth approximately $71,605,000. Fort Baker Capital Management LP bought a new position in shares of National Energy Services Reunited in the 4th quarter worth approximately $27,670,000. Balyasny Asset Management L.P. purchased a new position in shares of National Energy Services Reunited in the 4th quarter valued at approximately $20,330,000. Finally, GeoSphere Capital Management LLC bought a new stake in shares of National Energy Services Reunited during the fourth quarter valued at approximately $10,443,000. 15.55% of the stock is currently 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.