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

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) shares saw an uptick in trading volume on Wednesday . 892,113 shares traded hands during 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 research firms have recently issued reports on NESR. Barclays lifted their price target on shares of 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 downgraded National Energy Services Reunited from a "buy" rating to a "hold" rating in a research report on Sunday, June 15th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $15.00.

National Energy Services Reunited Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 1.10. The stock has a market capitalization of $597.03 million, a price-to-earnings ratio of 7.64 and a beta of 0.39. The company has a 50-day moving average of $6.18 and a 200-day moving average of $7.62.

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

Institutional Trading of National Energy Services Reunited

Several hedge funds and other institutional investors have recently bought and sold shares of NESR. Tejara Capital Ltd purchased a new stake in National Energy Services Reunited in the 4th quarter worth approximately $3,600,000. Sei Investments Co. purchased a new stake in National Energy Services Reunited in the 4th quarter worth approximately $328,000. JPMorgan Chase & Co. purchased a new stake in National Energy Services Reunited in the 4th quarter worth approximately $394,000. Robotti Robert purchased a new stake in National Energy Services Reunited in the 4th quarter worth approximately $90,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in National Energy Services Reunited in the 4th quarter worth approximately $107,000. 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.