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

National Energy Services Reunited Corp. (NASDAQ:NESR - Get Free Report) shares saw strong trading volume on Friday . 459,490 shares were traded during trading, an increase of 213% from the previous session's volume of 146,834 shares.The stock last traded at $6.35 and had previously closed at $6.31.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NESR shares. Barclays upped their target price on National Energy Services Reunited from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Benchmark began coverage on shares of National Energy Services Reunited in a research note on Tuesday, January 21st. They set a "buy" rating and a $15.00 price target on the stock.

National Energy Services Reunited Price Performance

The company's fifty day moving average is $6.93 and its two-hundred day moving average is $8.26. The firm has a market capitalization of $601.25 million, a price-to-earnings ratio of 7.83 and a beta of 0.42. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 0.33.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its quarterly earnings data on Wednesday, March 12th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $343.68 million for the quarter, compared to the consensus estimate of $339.84 million. Equities research analysts anticipate that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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