Insider Selling: National Energy Services Reunited (NASDAQ:NESR) Director Sells 457,391 Shares of Stock

Key Points

• Director Yousif Mohammed Ali Al-Nowais sold 457,391 NESR shares on May 26 at an average price of $26.12, worth about $11.95 million. The sale reduced his ownership by 11.4%.
• The director has also been selling shares repeatedly in recent days, including several large transactions on May 13, 14, 18, 19, 20, and 22, indicating a notable stretch of insider selling.
• NESR shares were down 2.5% to $25.24 in Wednesday trading, even though the company recently reported earnings and revenue that beat expectations and analysts currently rate the stock a Moderate Buy.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) Director Yousif Mohammed Ali Al-Nowais sold 457,391 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $26.12, for a total value of $11,947,052.92. Following the completion of the sale, the director owned 3,555,968 shares in the company, valued at $92,881,884.16. This represents a 11.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Yousif Mohammed Ali Al-Nowais also recently made the following trade(s):

• On Friday, May 22nd, Yousif Mohammed Ali Al-Nowais sold 242,497 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.14, for a total value of $6,338,871.58.
• On Wednesday, May 20th, Yousif Mohammed Ali Al-Nowais sold 573,544 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.14, for a total value of $14,992,440.16.
• On Tuesday, May 19th, Yousif Mohammed Ali Al-Nowais sold 3,500 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.13, for a total value of $91,455.00.
• On Monday, May 18th, Yousif Mohammed Ali Al-Nowais sold 220,568 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.06, for a total value of $5,748,002.08.
• On Thursday, May 14th, Yousif Mohammed Ali Al-Nowais sold 81,302 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.35, for a total value of $2,142,307.70.
• On Wednesday, May 13th, Yousif Mohammed Ali Al-Nowais sold 223,626 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.85, for a total value of $6,004,358.10.

National Energy Services Reunited Trading Down 2.5%

NASDAQ NESR traded down $0.65 during trading hours on Wednesday, hitting $25.24. 1,253,212 shares of the company were exchanged, compared to its average volume of 1,934,346. The stock has a 50-day moving average price of $23.68 and a 200 day moving average price of $19.96. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18. National Energy Services Reunited has a 52 week low of $5.47 and a 52 week high of $27.25. The stock has a market cap of $2.55 billion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 0.34 and a beta of 0.38.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.05. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The company had revenue of $404.59 million for the quarter, compared to analysts' expectations of $370.87 million. The firm's revenue was up 33.5% compared to the same quarter last year. Analysts forecast that National Energy Services Reunited will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NESR shares. Weiss Ratings raised National Energy Services Reunited from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. Piper Sandler boosted their price objective on National Energy Services Reunited from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Monday, May 18th. Barclays boosted their price objective on National Energy Services Reunited from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. Wall Street Zen raised National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. Finally, UBS Group boosted their price objective on National Energy Services Reunited from $31.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.86.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NESR. Royal Bank of Canada grew its stake in shares of National Energy Services Reunited by 373.8% during the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company's stock valued at $30,000 after buying an additional 1,499 shares during the last quarter. Legal & General Group Plc bought a new position in shares of National Energy Services Reunited during the second quarter valued at approximately $34,000. Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited during the first quarter valued at approximately $48,000. Osaic Holdings Inc. bought a new position in shares of National Energy Services Reunited during the second quarter valued at approximately $73,000. Finally, State of Wyoming bought a new position in shares of National Energy Services Reunited during the fourth quarter valued at approximately $76,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.