National Energy Services Reunited (NASDAQ:NESR) Short Interest Down 13.8% in February

Key Points

• Short interest down 13.8% — short interest fell to 2,166,585 shares as of Feb. 27 (about 2.2% of shares outstanding), with a days-to-cover ratio of roughly 1.1 days.
• Quarterly beat and revenue growth — NESR reported $0.32 EPS vs. $0.25 expected and revenue of $398.3M, a 15.9% year-over-year increase.
• Stock and analyst outlook — shares traded at $20.86 (up 1.2%), market cap ≈$2.1B, and analysts hold a consensus "Buy" with a $26 price target (UBS at $31).

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) saw a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 2,166,585 shares, a drop of 13.8% from the February 12th total of 2,514,871 shares. Currently, 2.2% of the company's shares are short sold. Based on an average daily trading volume, of 2,055,938 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily trading volume, of 2,055,938 shares, the days-to-cover ratio is currently 1.1 days. Currently, 2.2% of the company's shares are short sold.

National Energy Services Reunited Stock Up 1.2%

Shares of National Energy Services Reunited stock traded up $0.25 during midday trading on Tuesday, hitting $20.86. The company had a trading volume of 1,441,459 shares, compared to its average volume of 1,807,092. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.04. The company has a 50 day moving average of $20.86 and a 200 day moving average of $15.43. National Energy Services Reunited has a 52-week low of $5.20 and a 52-week high of $26.85. The stock has a market capitalization of $2.10 billion, a P/E ratio of 39.33, a P/E/G ratio of 0.52 and a beta of 0.17.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 17th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.25 by $0.07. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The company had revenue of $398.26 million for the quarter. National Energy Services Reunited's revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities 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

Hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted 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 valued at $30,000 after purchasing an additional 1,499 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in National Energy Services Reunited in the third quarter worth about $34,000. Legal & General Group Plc purchased a new position in National Energy Services Reunited during the 2nd quarter valued at $34,000. Ameritas Investment Partners Inc. purchased a new stake in National Energy Services Reunited in the second quarter worth $37,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of National Energy Services Reunited during the first quarter valued at $48,000. 15.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NESR. UBS Group boosted their target price on shares of National Energy Services Reunited to $31.00 and gave the company a "buy" rating in a research report on Thursday, February 19th. Weiss Ratings reissued a "hold (c)" rating on shares of National Energy Services Reunited in a research note on Monday, December 29th. Bank of America initiated coverage on shares of National Energy Services Reunited in a research report on Friday, January 9th. They set a "buy" rating on the stock. Piper Sandler raised their price target on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 18th. Finally, Wall Street Zen raised shares of National Energy Services Reunited from a "hold" rating to a "strong-buy" rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $26.00.

About National Energy Services Reunited

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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