National Energy Services Reunited (NASDAQ:NESR) Sees Large Volume Increase - What's Next?

Shares of National Energy Services Reunited Corp. (NASDAQ:NESR - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 478,578 shares changed hands during trading, an increase of 226% from the previous session's volume of 146,945 shares.The stock last traded at $6.20 and had previously closed at $6.01.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NESR shares. Barclays boosted their price objective on National Energy Services Reunited from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Benchmark assumed coverage on shares of National Energy Services Reunited in a research report on Tuesday, January 21st. They issued a "buy" rating and a $15.00 price target on the stock.

National Energy Services Reunited Price Performance

The company has a market cap of $614.69 million, a price-to-earnings ratio of 8.00 and a beta of 0.35. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $7.29 and a 200 day moving average price of $8.37.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $343.68 million for the quarter, compared to analysts' expectations of $339.84 million. As a group, research analysts expect that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. R Squared Ltd acquired a new position in National Energy Services Reunited during the fourth quarter valued at $41,000. Tower Research Capital LLC TRC acquired a new position in shares of National Energy Services Reunited during the 4th quarter worth $49,000. National Bank of Canada FI acquired a new stake in shares of National Energy Services Reunited in the 4th quarter valued at $74,000. TD Waterhouse Canada Inc. bought a new stake in National Energy Services Reunited in the fourth quarter worth $89,000. Finally, Robotti Robert acquired a new position in National Energy Services Reunited during the fourth quarter worth $90,000. 15.55% of the stock is owned by hedge funds and other institutional investors.

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.