National Energy Services Reunited (NASDAQ:NESR) Stock Price Up 4.7% - Here's What Happened

National Energy Services Reunited (NASDAQ:NESR - Get Free Report)'s share price was up 4.7% 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.

Analyst Upgrades and Downgrades

NESR has been the topic of several analyst reports. Wall Street Zen cut National Energy Services Reunited from a "buy" rating to a "hold" rating in a report on Sunday, June 15th. Barclays raised their price target on National Energy Services Reunited from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

National Energy Services Reunited Stock Performance

The stock's fifty day simple moving average is $6.18 and its two-hundred day simple moving average is $7.63. The company has a market cap of $597.03 million, a price-to-earnings ratio of 7.64 and a beta of 0.39. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 1.10.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.06). National Energy Services Reunited had a return on equity of 10.96% and a net margin of 5.87%. The firm had revenue of $303.10 million during the quarter, compared to analysts' expectations of $304.68 million. Equities research analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Trading of National Energy Services Reunited

A number of institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new position in National Energy Services Reunited in the fourth quarter valued at approximately $49,000. Acadian Asset Management LLC acquired a new stake in shares of National Energy Services Reunited in the first quarter worth $48,000. National Bank of Canada FI purchased a new position in shares of National Energy Services Reunited in the 4th quarter valued at $74,000. TD Waterhouse Canada Inc. acquired a new position in shares of National Energy Services Reunited during the 4th quarter valued at $89,000. Finally, Robotti Robert acquired a new position in shares of National Energy Services Reunited during the 4th quarter valued at $90,000. Hedge funds and other institutional investors own 15.55% of the company's stock.

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.