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

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) shares saw an uptick in trading volume on Wednesday . 892,113 shares were traded during mid-day trading, an increase of 349% from the previous session's volume of 198,785 shares.The stock last traded at $6.32 and had previously closed at $6.27.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Barclays boosted their price target 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 downgraded shares of National Energy Services Reunited from a "buy" rating to a "hold" rating in a report on Sunday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $15.00.

National Energy Services Reunited Price Performance

The company has a 50 day moving average price of $6.17 and a 200-day moving average price of $7.68. The company has a market cap of $604.74 million, a price-to-earnings ratio of 7.74 and a beta of 0.39. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.26.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced 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). The company had revenue of $303.10 million for the quarter, compared to analyst estimates of $304.68 million. National Energy Services Reunited had a return on equity of 10.96% and a net margin of 5.87%. As a group, equities research analysts predict that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Hedge Funds Weigh In On National Energy Services Reunited

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC bought a new stake in shares of National Energy Services Reunited during the fourth quarter worth about $49,000. Acadian Asset Management LLC acquired a new position in National Energy Services Reunited during the 1st quarter valued at about $48,000. National Bank of Canada FI bought a new stake in National Energy Services Reunited during the 4th quarter worth approximately $74,000. TD Waterhouse Canada Inc. purchased a new stake in shares of National Energy Services Reunited in the fourth quarter worth approximately $89,000. Finally, Robotti Robert bought a new position in shares of National Energy Services Reunited in the fourth quarter valued at approximately $90,000. Institutional investors 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.

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