National Energy Services Reunited (NASDAQ:NESR) Shares Gap Down Following Weak Earnings

National Energy Services Reunited Corp. (NASDAQ:NESR - Get Free Report) shares gapped down before the market opened on Tuesday following a weaker than expected 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 trading hands.

The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.06). The firm had revenue of $303.10 million for the quarter, compared to analysts' expectations of $304.68 million.

Analyst Upgrades and Downgrades

Separately, Barclays lifted their price objective 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.

Institutional Investors Weigh In On National Energy Services Reunited

Several large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC bought a new stake in National Energy Services Reunited in the fourth quarter worth $49,000. Acadian Asset Management LLC purchased a new stake in National Energy Services Reunited in the first quarter worth about $48,000. National Bank of Canada FI purchased a new stake in National Energy Services Reunited in the fourth quarter worth about $74,000. TD Waterhouse Canada Inc. bought a new position in National Energy Services Reunited in the fourth quarter worth about $89,000. Finally, Robotti Robert bought a new position in National Energy Services Reunited in the fourth quarter worth about $90,000. Institutional investors own 15.55% of the company's stock.

National Energy Services Reunited Stock Down 6.0%

The company's 50-day moving average is $6.27 and its 200 day moving average is $7.85. The stock has a market capitalization of $541.10 million, a PE ratio of 7.01 and a beta of 0.42. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33.

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.