National Energy Services Reunited (NASDAQ:NESR) Sees Unusually-High Trading Volume - Time to Buy?

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) saw an uptick in trading volume on Tuesday . 789,695 shares were traded during trading, an increase of 208% from the previous session's volume of 256,143 shares.The stock last traded at $5.95 and had previously closed at $6.02.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays lifted their target price on National Energy Services Reunited from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. Wall Street Zen cut shares of National Energy Services Reunited from a "buy" rating to a "hold" rating in a research report on Sunday, June 15th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $15.00.

National Energy Services Reunited Stock Up 2.9%

The business has a fifty day moving average of $6.18 and a 200-day moving average of $7.49. The stock has a market cap of $634.06 million, a PE ratio of 8.12 and a beta of 0.36. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.10 and a quick ratio of 0.90.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.06). The firm had revenue of $303.10 million for the quarter, compared to the consensus estimate of $304.68 million. National Energy Services Reunited had a return on equity of 10.96% and a net margin of 5.87%. Equities research analysts anticipate that National Energy Services Reunited will post 1.03 earnings per share for the current year.

Institutional Investors Weigh In On National Energy Services Reunited

Large investors have recently modified their holdings of the business. Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited during the first quarter valued at approximately $48,000. Bluefin Capital Management LLC purchased a new stake in National Energy Services Reunited during the first quarter worth $137,000. Jane Street Group LLC bought a new stake in National Energy Services Reunited during the 1st quarter valued at $1,425,000. Millennium Management LLC increased its holdings in shares of National Energy Services Reunited by 38.2% in the 1st quarter. Millennium Management LLC now owns 542,135 shares of the company's stock valued at $3,990,000 after acquiring an additional 149,796 shares during the period. Finally, Interval Partners LP bought a new position in shares of National Energy Services Reunited in the 1st quarter worth $585,000. Institutional investors own 15.55% of the company's stock.

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.