Penn Capital Management Company LLC Buys 46,276 Shares of National Energy Services Reunited $NESR

Key Points

• Penn Capital Management Company LLC increased its ownership in National Energy Services Reunited by 111.9%, acquiring an additional 46,276 shares to total 87,630 shares, valued at approximately $645,000.
• Wall Street analysts show a consensus rating of "Buy" for the stock, with target price estimates increasing from $11.00 to $13.00.
• National Energy Services Reunited reported earnings of $0.21 EPS for the most recent quarter, exceeding expectations of $0.19 EPS, with revenue of $327.37 million.

Penn Capital Management Company LLC raised its stake in shares of National Energy Services Reunited (NASDAQ:NESR - Free Report) by 111.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,630 shares of the company's stock after purchasing an additional 46,276 shares during the period. Penn Capital Management Company LLC owned 0.09% of National Energy Services Reunited worth $645,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC bought a new position in shares of National Energy Services Reunited during the 4th quarter valued at about $49,000. EntryPoint Capital LLC purchased a new stake in shares of National Energy Services Reunited during the 1st quarter valued at about $81,000. TD Waterhouse Canada Inc. purchased a new stake in shares of National Energy Services Reunited during the 4th quarter valued at about $89,000. Toronto Dominion Bank purchased a new stake in shares of National Energy Services Reunited during the 4th quarter valued at about $90,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of National Energy Services Reunited during the 1st quarter valued at about $92,000. Institutional investors own 15.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of National Energy Services Reunited from $11.00 to $13.00 and gave the company an "overweight" rating in a research report on Thursday. Wall Street Zen cut shares of National Energy Services Reunited from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, National Energy Services Reunited presently has a consensus rating of "Buy" and an average target price of $14.60.

National Energy Services Reunited Stock Performance

National Energy Services Reunited stock opened at $8.65 on Friday. The firm has a market capitalization of $834.29 million, a P/E ratio of 11.23 and a beta of 0.39. The company's 50-day moving average is $6.55 and its 200 day moving average is $6.91. National Energy Services Reunited has a 1-year low of $5.20 and a 1-year high of $9.89. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.11 and a quick ratio of 0.90.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last issued its earnings results on Wednesday, August 20th. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. The business had revenue of $327.37 million for the quarter, compared to analyst estimates of $316.07 million. National Energy Services Reunited had a net margin of 5.57% and a return on equity of 9.91%. Research analysts forecast that National Energy Services Reunited will post 1.03 EPS for the current year.

About National Energy Services Reunited

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.