National Energy Services Reunited (NASDAQ:NESR) Hits New 1-Year High - What's Next?

Key Points

• National Energy Services Reunited (NASDAQ:NESR) shares reached a new 52-week high of $9.99 before closing at $9.80, with recent trading volume at 182,674 shares.
• Several research firms have upgraded their ratings on NESR, with Piper Sandler setting a new price target of $13.00 and Maxim Group initiating coverage with a buy rating and a price target of $16.00.
• The company reported a 0.21 EPS for the last quarter, exceeding analysts' expectations, and posted a revenue of $327.37 million, indicating strong performance in the oilfield services sector.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $9.99 and last traded at $9.80, with a volume of 182674 shares changing hands. The stock had previously closed at $9.59.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NESR. Piper Sandler boosted their price objective on shares of National Energy Services Reunited from $11.00 to $13.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Wall Street Zen raised shares of National Energy Services Reunited from a "hold" rating to a "buy" rating in a report on Monday, August 25th. Finally, Maxim Group began coverage on shares of National Energy Services Reunited in a report on Tuesday. They set a "buy" rating and a $16.00 price objective for the company. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, National Energy Services Reunited has an average rating of "Buy" and a consensus price target of $14.83.

National Energy Services Reunited Price Performance

The firm's 50-day moving average is $7.26 and its 200-day moving average is $6.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.11 and a quick ratio of 0.93. The company has a market capitalization of $951.00 million, a P/E ratio of 12.80 and a beta of 0.36.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 20th. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. The business had revenue of $327.37 million during 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%. Analysts predict that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Hedge Funds Weigh In On National Energy Services Reunited

Hedge funds have recently modified their holdings of the company. Legal & General Group Plc bought a new position in shares of National Energy Services Reunited in the second quarter worth approximately $34,000. Ameritas Investment Partners Inc. bought a new position in shares of National Energy Services Reunited during the second quarter worth $37,000. Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited during the first quarter worth $48,000. Tower Research Capital LLC TRC bought a new position in shares of National Energy Services Reunited during the fourth quarter worth $49,000. Finally, Osaic Holdings Inc. bought a new position in shares of National Energy Services Reunited during the second quarter worth $73,000. 15.55% of the stock is currently owned by institutional investors.

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.

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