National Energy Services Reunited (NASDAQ:NESR) Sees Unusually-High Trading Volume - Here's What Happened

National Energy Services Reunited Corp. (NASDAQ:NESR - Get Free Report) shares saw an uptick in trading volume on Friday . 459,490 shares traded hands 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

NESR has been the subject of several recent research reports. Benchmark initiated 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 for the company. 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.

National Energy Services Reunited Stock Up 4.8 %

The stock has a 50-day moving average of $6.89 and a 200 day moving average of $8.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.10 and a quick ratio of 0.91. The company has a market cap of $608.93 million, a P/E ratio of 7.91 and a beta of 0.42.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last issued its earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) 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. Research analysts anticipate that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current year.

Institutional Trading of National Energy Services Reunited

A number of large investors have recently modified their holdings of the company. R Squared Ltd bought a new position in National Energy Services Reunited during the fourth quarter valued at about $41,000. Tower Research Capital LLC TRC acquired a new position in National Energy Services Reunited during the fourth quarter valued at approximately $49,000. National Bank of Canada FI acquired a new stake in shares of National Energy Services Reunited in the fourth quarter valued at about $74,000. TD Waterhouse Canada Inc. acquired a new position in National Energy Services Reunited during the fourth quarter worth $89,000. Finally, Robotti Robert purchased a new position in National Energy Services Reunited in the fourth quarter valued at approximately $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.