National Energy Services Reunited (NASDAQ:NESR) Now Covered by Analysts at Maxim Group

Key Points

• Maxim Group has initiated coverage on National Energy Services Reunited (NASDAQ:NESR) with a "buy" rating and a price target of $16.00, suggesting a potential upside of 66.84% from its current stock price.
• Recent earnings reports show that NESR exceeded expectations with an EPS of $0.21 for the quarter, surpassing the consensus estimate of $0.19, along with a revenue of $327.37 million against an expected $316.07 million.
• Institutional investors have increased their stakes in NESR, with notable purchases from firms including Ameriprise Financial and Millennium Management, now holding a combined total of 15.55% of the company's stock.

Stock analysts at Maxim Group started coverage on shares of National Energy Services Reunited (NASDAQ:NESR - Get Free Report) in a research note issued on Tuesday. The brokerage set a "buy" rating and a $16.00 price target on the stock. Maxim Group's target price would indicate a potential upside of 66.84% from the company's current price.

NESR has been the topic of several other reports. Wall Street Zen raised National Energy Services Reunited from a "hold" rating to a "buy" rating in a research report on Monday, August 25th. Piper Sandler upped 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 research report on Thursday, August 21st. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $14.83.

National Energy Services Reunited Price Performance

NESR stock opened at $9.59 on Tuesday. The stock has a 50-day moving average price of $7.26 and a two-hundred day moving average price of $6.88. National Energy Services Reunited has a 12-month low of $5.20 and a 12-month high of $9.89. The company has a current ratio of 1.11, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24. The company has a market cap of $924.96 million, a PE ratio of 12.45 and a beta of 0.36.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its quarterly earnings data on Wednesday, August 20th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. National Energy Services Reunited had a return on equity of 9.91% and a net margin of 5.57%.The company had revenue of $327.37 million for the quarter, compared to analyst estimates of $316.07 million. As a group, research analysts predict that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Investors Weigh In On National Energy Services Reunited

Several hedge funds and other institutional investors have recently modified their holdings of NESR. Dimensional Fund Advisors LP bought a new stake in shares of National Energy Services Reunited in the 4th quarter worth about $176,000. Tower Research Capital LLC TRC bought a new stake in shares of National Energy Services Reunited in the 4th quarter worth about $49,000. Ameriprise Financial Inc. bought a new position in shares of National Energy Services Reunited in the 4th quarter worth about $1,162,000. Bank of America Corp DE bought a new position in shares of National Energy Services Reunited in the 4th quarter worth about $1,208,000. Finally, Millennium Management LLC bought a new position in shares of National Energy Services Reunited in the 4th quarter worth about $3,515,000. Institutional investors own 15.55% of the company's stock.

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.

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.