National Energy Services Reunited (NASDAQ:NESR) Shares Down 7.9% - Here's Why

Key Points

• National Energy Services Reunited shares fell 7.9% midday to $18.87 (intraday low $19.20) on unusually light volume of about 451,150 shares, roughly 73% below the average daily volume.
• Analyst views are mixed but the consensus is a “Moderate Buy” with a $26 average target; individual notes ranged from downgrades to holds to price-target increases (e.g., BTIG to $28, Piper Sandler to $19).
• The company beat expectations for the quarter with EPS of $0.32 versus $0.25 expected and revenue of $398.3M (up 15.9% YoY), while trading at a P/E of about 35 and a market cap near $1.88 billion.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report)'s stock price was down 7.9% during mid-day trading on Thursday . The company traded as low as $19.20 and last traded at $18.8730. Approximately 451,150 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 1,687,874 shares. The stock had previously closed at $20.49.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wall Street Zen downgraded National Energy Services Reunited from a "buy" rating to a "hold" rating in a research note on Sunday, December 21st. Piper Sandler upped their target price on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the stock an "overweight" rating in a report on Tuesday, November 18th. National Bank Financial set a $21.00 target price on shares of National Energy Services Reunited in a research report on Friday, January 9th. Zacks Research downgraded shares of National Energy Services Reunited from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 11th. Finally, BTIG Research upped their price objective on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the company a "buy" rating in a research note on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $26.00.

National Energy Services Reunited Price Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.04 and a quick ratio of 0.92. The stock has a 50 day simple moving average of $20.63 and a two-hundred day simple moving average of $15.15. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 0.57 and a beta of 0.18.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last issued its earnings results on Tuesday, February 17th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.07. The business had revenue of $398.26 million during the quarter. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.The firm's revenue was up 15.9% on a year-over-year basis. On average, equities research analysts predict that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On National Energy Services Reunited

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in shares of National Energy Services Reunited by 373.8% during the 4th quarter. Royal Bank of Canada now owns 1,900 shares of the company's stock worth $30,000 after buying an additional 1,499 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in National Energy Services Reunited in the third quarter valued at approximately $34,000. State of Wyoming purchased a new position in National Energy Services Reunited in the fourth quarter worth approximately $76,000. Clearstead Advisors LLC grew its position in National Energy Services Reunited by 180.1% in the fourth quarter. Clearstead Advisors LLC now owns 4,932 shares of the company's stock worth $77,000 after acquiring an additional 3,171 shares during the period. Finally, Legal & General Group Plc acquired a new stake in National Energy Services Reunited during the second quarter worth $34,000. 15.55% of the stock is owned by hedge funds and other institutional investors.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp NASDAQ: NESR is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company's mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR's service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.

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