National Energy Services Reunited Corp. (NASDAQ:NESR - Get Free Report) gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $6.32, but opened at $5.82. National Energy Services Reunited shares last traded at $5.76, with a volume of 223,150 shares traded.
The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.06). The business had revenue of $303.10 million during the quarter, compared to analysts' expectations of $304.68 million.
Analyst Ratings Changes
Separately, Barclays increased their target price 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.
Read Our Latest Stock Report on National Energy Services Reunited
Institutional Trading of National Energy Services Reunited
Institutional investors have recently modified their holdings of the stock. Encompass Capital Advisors LLC acquired a new position in shares of National Energy Services Reunited during the fourth quarter worth $79,108,000. SCF Partners Inc. purchased a new position in National Energy Services Reunited during the 4th quarter worth $71,605,000. Fort Baker Capital Management LP purchased a new position in shares of National Energy Services Reunited in the 4th quarter worth about $27,670,000. Balyasny Asset Management L.P. purchased a new position in shares of National Energy Services Reunited in the 4th quarter worth about $20,330,000. Finally, GeoSphere Capital Management LLC bought a new position in National Energy Services Reunited during the fourth quarter worth about $10,443,000. 15.55% of the stock is currently owned by institutional investors.
National Energy Services Reunited Price Performance
The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 0.33. The stock has a market cap of $564.25 million, a P/E ratio of 7.31 and a beta of 0.42. The business's 50-day simple moving average is $6.20 and its two-hundred day simple moving average is $7.81.
National Energy Services Reunited Company Profile
(
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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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