National Energy Services Reunited (NASDAQ:NESR) Stock Price Up 4.7% – Should You Buy?

Shares of National Energy Services Reunited Corp. (NASDAQ:NESR) shot up 4.7% during trading on Tuesday . The stock traded as high as $6.28 and last traded at $6.29. 101,656 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 194,204 shares. The stock had previously closed at $6.01.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Barclays raised their target price on shares of National Energy Services Reunited from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th. Wall Street Zen downgraded shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a research note on Sunday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, National Energy Services Reunited has a consensus rating of “Moderate Buy” and an average target price of $15.00.

National Energy Services Reunited Stock Up 5.2%

The firm’s fifty day moving average price is $6.17 and its 200-day moving average price is $7.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.10 and a quick ratio of 0.91. The firm has a market capitalization of $609.58 million, a P/E ratio of 7.76 and a beta of 0.39.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Tuesday, June 3rd. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). The company had revenue of $303.10 million for the quarter, compared to analysts’ expectations of $304.68 million. As a group, equities research analysts forecast that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current year.

Institutional Trading of National Energy Services Reunited

Several institutional investors have recently made changes to their positions in the business. Encompass Capital Advisors LLC bought a new stake in shares of National Energy Services Reunited during the fourth quarter worth approximately $79,108,000. SCF Partners Inc. bought a new stake in shares of National Energy Services Reunited during the fourth quarter worth approximately $71,605,000. Fort Baker Capital Management LP bought a new stake in National Energy Services Reunited in the fourth quarter valued at approximately $27,670,000. Balyasny Asset Management L.P. bought a new stake in National Energy Services Reunited in the fourth quarter valued at approximately $20,330,000. Finally, GeoSphere Capital Management LLC bought a new stake in National Energy Services Reunited in the fourth quarter valued at approximately $10,443,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

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.