National Energy Services Reunited (NASDAQ:NESR) Sees Strong Trading Volume on Better-Than-Expected Earnings

Key Points

• National Energy Services Reunited (NASDAQ:NESR) reported quarterly earnings of $0.21 EPS, surpassing analysts' expectations of $0.19 by $0.02, which contributed to a noticeable increase in trading volume.
• The stock price rose to $8.21, reflecting a significant increase from its previous close of $7.29, as the firm’s market cap reached $793.78 million.
• Investment analysts maintain a generally positive outlook on NESR, with an average rating of "Buy" and a target price of $14.20, although some firms have adjusted their ratings recently.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) saw strong trading volume on Wednesday after the company announced better than expected quarterly earnings. 420,959 shares were traded during trading, a decline of 7% from the previous session's volume of 453,933 shares.The stock last traded at $8.21 and had previously closed at $7.29.

The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. The company had revenue of $327.37 million for the quarter, compared to analysts' expectations of $316.07 million. National Energy Services Reunited had a net margin of 5.57% and a return on equity of 9.91%.

Analyst Ratings Changes

A number of research firms recently weighed in on NESR. Wall Street Zen raised shares of National Energy Services Reunited from a "hold" rating to a "buy" rating in a report on Monday. Piper Sandler upped their target price on shares of National Energy Services Reunited from $11.00 to $13.00 and gave the stock an "overweight" rating in a report on Thursday. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, National Energy Services Reunited currently has an average rating of "Buy" and an average price target of $14.60.

Institutional Investors Weigh In On National Energy Services Reunited

A number of institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC purchased a new stake in shares of National Energy Services Reunited in the 4th quarter valued at $49,000. Legal & General Group Plc purchased a new stake in shares of National Energy Services Reunited in the 2nd quarter valued at $34,000. Ameritas Investment Partners Inc. purchased a new stake in shares of National Energy Services Reunited in the 2nd quarter valued at $37,000. Acadian Asset Management LLC purchased a new stake in shares of National Energy Services Reunited in the 1st quarter valued at $48,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of National Energy Services Reunited by 92.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 17,339 shares of the company's stock valued at $104,000 after purchasing an additional 8,337 shares in the last quarter. Hedge funds and other institutional investors own 15.55% of the company's stock.

National Energy Services Reunited Stock Up 0.1%

The company has a market cap of $835.28 million, a PE ratio of 11.25 and a beta of 0.39. The stock's 50 day moving average price is $6.55 and its 200-day moving average price is $6.89. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 1.11.

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.