National Energy Services Reunited (NASDAQ:NESR) Reaches New 52-Week High – Here’s What Happened

National Energy Services Reunited (NASDAQ:NESR)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $18.00 and last traded at $17.59, with a volume of 107412 shares trading hands. The stock had previously closed at $17.80.

Analyst Upgrades and Downgrades

NESR has been the topic of several research analyst reports. Maxim Group set a $30.00 price objective on National Energy Services Reunited in a report on Monday. Piper Sandler increased their price objective on National Energy Services Reunited from $15.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. BTIG Research boosted their target price on National Energy Services Reunited from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. JPMorgan Chase & Co. increased their price target on National Energy Services Reunited from $10.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Finally, National Bankshares set a $21.00 target price on National Energy Services Reunited in a report on Friday. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.57.

National Energy Services Reunited Stock Down 1.5%

The firm has a 50-day moving average of $14.62 and a two-hundred day moving average of $10.86. The company has a quick ratio of 0.92, a current ratio of 1.10 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.69 billion, a PE ratio of 23.98 and a beta of 0.23.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Thursday, November 13th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. National Energy Services Reunited had a return on equity of 8.24% and a net margin of 5.53%.The company had revenue of $295.32 million for the quarter, compared to the consensus estimate of $292.46 million. Equities research analysts predict that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NESR. State of Alaska Department of Revenue purchased a new position in National Energy Services Reunited during the third quarter worth about $34,000. Legal & General Group Plc purchased a new stake in shares of National Energy Services Reunited in the 2nd quarter valued at approximately $34,000. Ameritas Investment Partners Inc. acquired a new position in shares of National Energy Services Reunited in the 2nd quarter worth approximately $37,000. Acadian Asset Management LLC acquired a new position in shares of National Energy Services Reunited in the 1st quarter worth approximately $48,000. Finally, Osaic Holdings Inc. purchased a new position in shares of National Energy Services Reunited during the 2nd quarter worth approximately $73,000. 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.