National Energy Services Reunited (NASDAQ:NESR) Trading Up 6.6% – Still a Buy?

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NESR shares. Barclays upped their target price on National Energy Services Reunited from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. initiated coverage on shares of National Energy Services Reunited in a research report on Friday, December 6th. They set an “overweight” rating and a $13.00 price target for the company. Finally, Benchmark started coverage on National Energy Services Reunited in a report on Tuesday, January 21st. They issued a “buy” rating and a $15.00 price objective on the stock.

National Energy Services Reunited Trading Down 7.8 %

The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average price of $8.85 and a 200 day moving average price of $8.97.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $343.68 million during the quarter, compared to analysts’ expectations of $339.84 million. Equities analysts forecast that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of National Energy Services Reunited

Large investors have recently made changes to their positions in the stock. R Squared Ltd purchased a new stake in shares of National Energy Services Reunited during the 4th quarter valued at $41,000. Tower Research Capital LLC TRC acquired a new stake in National Energy Services Reunited during the 4th quarter valued at $49,000. National Bank of Canada FI acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at approximately $74,000. TD Waterhouse Canada Inc. acquired a new position in National Energy Services Reunited in the fourth quarter worth about $89,000. Finally, Robotti Robert bought a new stake in shares of National Energy Services Reunited during the 4th quarter valued at about $90,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

National Energy Services Reunited Company Profile

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.