National Energy Services Reunited (NASDAQ:NESR) Trading Up 1.6% – What’s Next?

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

Analyst Ratings Changes

Several analysts have commented on NESR shares. JPMorgan Chase & Co. began coverage on National Energy Services Reunited in a research note on Friday, December 6th. They set an “overweight” rating and a $13.00 target price on the stock. BTIG Research started coverage on National Energy Services Reunited in a research report on Friday, October 25th. They set a “buy” rating and a $15.00 price objective on the stock.

National Energy Services Reunited Stock Performance

The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The stock’s 50-day moving average is $8.82 and its two-hundred day moving average is $9.04.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in National Energy Services Reunited stock. HITE Hedge Asset Management LLC acquired a new stake in shares of National Energy Services Reunited Corp. (NASDAQ:NESR) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 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 reporting period. 15.55% of the stock is owned by institutional investors and hedge funds.

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.