National Energy Services Reunited (NASDAQ:NESR) Shares Down 4.4% – Should You Sell?

National Energy Services Reunited (NASDAQ:NESR)’s share price was down 4.4% during mid-day trading on Monday . The company traded as low as $21.52 and last traded at $21.6430. Approximately 287,131 shares were traded during trading, a decline of 85% from the average daily volume of 1,869,159 shares. The stock had previously closed at $22.64.

Analyst Upgrades and Downgrades

NESR has been the subject of a number of recent analyst reports. UBS Group raised their price objective on shares of National Energy Services Reunited to $31.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Friday, March 27th. National Bank Financial set a $21.00 price target on National Energy Services Reunited in a report on Friday, January 9th. Wall Street Zen lowered National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Maxim Group set a $30.00 price objective on National Energy Services Reunited in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $26.00.

National Energy Services Reunited Stock Down 5.7%

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.04 and a quick ratio of 0.89. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 40.31, a price-to-earnings-growth ratio of 0.62 and a beta of 0.29. The firm’s 50-day simple moving average is $21.79 and its two-hundred day simple moving average is $16.58.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. The company had revenue of $398.26 million during the quarter. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Sell-side analysts predict that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Trading of National Energy Services Reunited

Several large investors have recently bought and sold shares of the company. Principal Financial Group Inc. purchased a new position in National Energy Services Reunited during the 3rd quarter valued at about $608,000. Citigroup Inc. grew its position in shares of National Energy Services Reunited by 680.2% in the third quarter. Citigroup Inc. now owns 186,801 shares of the company’s stock valued at $1,917,000 after purchasing an additional 162,858 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of National Energy Services Reunited in the third quarter valued at approximately $5,543,000. Kazazian Asset Management LLC increased its stake in shares of National Energy Services Reunited by 71.7% during the 3rd quarter. Kazazian Asset Management LLC now owns 143,650 shares of the company’s stock worth $1,474,000 after purchasing an additional 60,000 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of National Energy Services Reunited by 109.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 444,885 shares of the company’s stock worth $2,678,000 after purchasing an additional 232,830 shares during the last quarter. Institutional investors and hedge funds own 15.55% of the company’s stock.

About National Energy Services Reunited

National Energy Services Reunited Corp (NASDAQ: NESR) is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company’s mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR’s service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.