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

Shares of National Energy Services Reunited (NASDAQ:NESR - Get Free Report) saw strong 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.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NESR. Barclays boosted their price objective on National Energy Services Reunited from $16.00 to $17.00 and gave the company an "overweight" rating in a research 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 report on Sunday, June 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $15.00.

National Energy Services Reunited Stock Down 2.3%

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.10 and a quick ratio of 0.90. The company has a market capitalization of $619.21 million, a price-to-earnings ratio of 7.93 and a beta of 0.36. The firm has a 50-day moving average price of $6.19 and a two-hundred day moving average price of $7.46.

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

Institutional Trading of National Energy Services Reunited

Institutional investors have recently made changes to their positions in the business. Millennium Management LLC acquired a new stake in National Energy Services Reunited in the 4th quarter valued at $3,515,000. Bank of America Corp DE bought a new position in shares of National Energy Services Reunited in the 4th quarter valued at about $1,208,000. Ameriprise Financial Inc. acquired a new stake in shares of National Energy Services Reunited in the fourth quarter valued at about $1,162,000. SCF Partners Inc. bought a new stake in National Energy Services Reunited during the fourth quarter worth about $71,605,000. Finally, Two Sigma Advisers LP bought a new stake in National Energy Services Reunited during the fourth quarter worth about $127,000. 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.