National Energy Services Reunited (NASDAQ:NESR) Sets New 52-Week High – Time to Buy?

Shares of National Energy Services Reunited (NASDAQ:NESR) hit a new 52-week high on Wednesday . The stock traded as high as $15.24 and last traded at $15.1980, with a volume of 65274 shares trading hands. The stock had previously closed at $15.08.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NESR shares. Maxim Group began coverage on National Energy Services Reunited in a report on Tuesday, September 9th. They set a “buy” rating and a $16.00 price target for the company. JPMorgan Chase & Co. lifted their target price on shares of National Energy Services Reunited from $10.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Piper Sandler increased their price target on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Wall Street Zen lowered National Energy Services Reunited from a “buy” rating to a “hold” rating in a report on Sunday. Finally, National Bankshares set a $16.00 target price on National Energy Services Reunited in a research note on Tuesday, September 9th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.86.

National Energy Services Reunited Stock Performance

The stock has a market cap of $1.46 billion, a PE ratio of 20.75 and a beta of 0.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.10 and a quick ratio of 0.92. The stock has a 50-day simple moving average of $13.49 and a 200-day simple moving average of $9.87.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Penn Capital Management Company LLC boosted its holdings in National Energy Services Reunited by 37.8% in the 3rd quarter. Penn Capital Management Company LLC now owns 71,970 shares of the company’s stock worth $738,000 after acquiring an additional 19,741 shares during the period. CIBC Bancorp USA Inc. acquired a new position in shares of National Energy Services Reunited during the third quarter worth $507,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of National Energy Services Reunited in the third quarter valued at $109,000. Lighthouse Investment Partners LLC purchased a new stake in National Energy Services Reunited during the 3rd quarter worth $616,000. Finally, EdgePoint Investment Group Inc. acquired a new position in National Energy Services Reunited in the 3rd quarter worth $923,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp (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.