National Energy Services Reunited (NASDAQ:NESR) Trading 5.6% Higher - What's Next?

Key Points

• National Energy Services Reunited's stock price climbed 5.6% to $7.35, despite significantly lower trading volume at 52,574 shares, compared to an average of 447,098 shares.
• Analysts have mixed views on NESR, with Piper Sandler setting an "overweight" rating and price target of $11.00, while Wall Street Zen downgraded its rating from "buy" to "hold"; the consensus rating remains a "Moderate Buy" with a target of $14.20.
• The company reported a quarterly earnings miss, with earnings per share of $0.14, below the expected $0.20, and revenue of $303.10 million, slightly short of estimates.

Shares of National Energy Services Reunited (NASDAQ:NESR - Get Free Report) were up 5.6% during mid-day trading on Monday . The stock traded as high as $7.23 and last traded at $7.35. Approximately 52,574 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 447,098 shares. The stock had previously closed at $6.96.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NESR. Wall Street Zen downgraded shares of National Energy Services Reunited from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. Piper Sandler boosted their price target on shares of National Energy Services Reunited from $11.00 to $13.00 and gave the company an "overweight" rating in a research report on Thursday. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, National Energy Services Reunited has a consensus rating of "Buy" and an average price target of $14.60.

National Energy Services Reunited Stock Up 1.4%

The firm's 50-day simple moving average is $6.55 and its 200 day simple moving average is $6.92. The stock has a market capitalization of $834.29 million, a P/E ratio of 11.23 and a beta of 0.39. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.11.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. The company had revenue of $327.37 million during the quarter, compared to the consensus estimate of $316.07 million. National Energy Services Reunited had a net margin of 5.57% and a return on equity of 9.91%. As a group, research analysts expect that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Trading of National Energy Services Reunited

A number of hedge funds have recently modified their holdings of NESR. Legal & General Group Plc acquired a new stake in shares of National Energy Services Reunited during the 2nd quarter worth about $34,000. Ameritas Investment Partners Inc. acquired a new stake in National Energy Services Reunited in the 2nd quarter worth about $37,000. Acadian Asset Management LLC acquired a new stake in National Energy Services Reunited in the 1st quarter worth about $48,000. Tower Research Capital LLC TRC acquired a new stake in National Energy Services Reunited in the 4th quarter worth about $49,000. Finally, ProShare Advisors LLC acquired a new stake in National Energy Services Reunited in the 2nd quarter worth about $75,000. Institutional investors and hedge funds 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.