National Energy Services Reunited (NASDAQ:NESR) Stock Price Up 4.7% - Should You Buy?

National Energy Services Reunited Corp. (NASDAQ:NESR - Get Free Report) rose 4.7% during mid-day trading on Tuesday . The company traded as high as $6.28 and last traded at $6.29. Approximately 101,656 shares changed hands during trading, a decline of 48% from the average daily volume of 194,204 shares. The stock had previously closed at $6.01.

Wall Street Analyst Weigh In

NESR has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of National Energy Services Reunited from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. Wall Street Zen downgraded shares of National Energy Services Reunited from a "buy" rating to a "hold" rating in a research note on Sunday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

National Energy Services Reunited Stock Up 5.2%

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.10 and a quick ratio of 0.91. The company has a market cap of $609.58 million, a price-to-earnings ratio of 7.76 and a beta of 0.39. The firm's 50 day simple moving average is $6.17 and its 200-day simple moving average is $7.69.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.06). The firm had revenue of $303.10 million for the quarter, compared to analyst estimates of $304.68 million. As a group, sell-side analysts anticipate that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE purchased a new position in National Energy Services Reunited during the fourth quarter worth about $1,208,000. Millennium Management LLC acquired a new position in National Energy Services Reunited during the fourth quarter worth about $3,515,000. Ameriprise Financial Inc. acquired a new position in National Energy Services Reunited during the fourth quarter worth about $1,162,000. SCF Partners Inc. acquired a new position in National Energy Services Reunited during the fourth quarter worth about $71,605,000. Finally, Barclays PLC acquired a new position in National Energy Services Reunited during the fourth quarter worth about $430,000. 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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.