Iridian Asset Management LLC CT Grows Stock Position in National Energy Services Reunited (NASDAQ:NESR)

Iridian Asset Management LLC CT raised its stake in National Energy Services Reunited (NASDAQ:NESR - Free Report) by 78.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 273,944 shares of the company's stock after buying an additional 120,108 shares during the period. Iridian Asset Management LLC CT owned about 0.29% of National Energy Services Reunited worth $2,016,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new position in National Energy Services Reunited during the 4th quarter worth approximately $49,000. National Bank of Canada FI acquired a new position in National Energy Services Reunited during the 4th quarter worth approximately $74,000. TD Waterhouse Canada Inc. acquired a new position in National Energy Services Reunited during the 4th quarter worth approximately $89,000. Robotti Robert acquired a new position in National Energy Services Reunited during the 4th quarter worth approximately $90,000. Finally, Toronto Dominion Bank acquired a new position in National Energy Services Reunited during the 4th quarter worth approximately $90,000. 15.55% of the stock is owned by institutional investors.

National Energy Services Reunited Price Performance

NASDAQ:NESR traded up $0.01 during trading hours on Friday, hitting $6.36. 304,090 shares of the company's stock traded hands, compared to its average volume of 275,106. The firm has a market cap of $613.42 million, a P/E ratio of 7.85 and a beta of 0.36. National Energy Services Reunited has a 52 week low of $5.20 and a 52 week high of $9.89. The business's fifty day simple moving average is $6.19 and its two-hundred day simple moving average is $7.39. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.26.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.06). National Energy Services Reunited had a return on equity of 10.96% and a net margin of 5.87%. The firm had revenue of $303.10 million for the quarter, compared to the consensus estimate of $304.68 million. On average, research analysts anticipate that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barclays increased their price objective on National Energy Services Reunited from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Wall Street Zen downgraded National Energy Services Reunited from a "buy" rating to a "hold" rating in a research note on Sunday, June 15th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, National Energy Services Reunited currently has an average rating of "Moderate Buy" and an average target price of $15.00.

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.