National Energy Services Reunited (NASDAQ:NESR) Stock Price Up 8.5% - Here's What Happened

Shares of National Energy Services Reunited (NASDAQ:NESR - Get Free Report) were up 8.5% during mid-day trading on Tuesday . The company traded as high as $6.76 and last traded at $6.76. Approximately 262,595 shares changed hands during trading, a decline of 3% from the average daily volume of 269,334 shares. The stock had previously closed at $6.23.

Analysts Set New Price Targets

A number of research firms recently issued reports on NESR. Barclays upped their target price on National Energy Services Reunited from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th. Wall Street Zen lowered National Energy Services Reunited from a "buy" rating to a "hold" rating in a research note on Sunday, June 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, National Energy Services Reunited presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

National Energy Services Reunited Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 1.10. The stock has a market cap of $606.69 million, a price-to-earnings ratio of 7.77 and a beta of 0.36. The business's fifty day simple moving average is $6.19 and its 200 day simple moving average is $7.42.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $304.68 million. National Energy Services Reunited had a return on equity of 10.96% and a net margin of 5.87%. Research analysts predict that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On National Energy Services Reunited

Institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC bought a new position in National Energy Services Reunited in the 1st quarter worth about $48,000. Bluefin Capital Management LLC bought a new position in shares of National Energy Services Reunited in the first quarter valued at approximately $137,000. Jane Street Group LLC bought a new position in shares of National Energy Services Reunited in the first quarter valued at approximately $1,425,000. Millennium Management LLC boosted its holdings in shares of National Energy Services Reunited by 38.2% in the first quarter. Millennium Management LLC now owns 542,135 shares of the company's stock valued at $3,990,000 after acquiring an additional 149,796 shares in the last quarter. Finally, Interval Partners LP bought a new position in shares of National Energy Services Reunited in the first quarter valued at approximately $585,000. Institutional investors and hedge funds own 15.55% of the company's stock.

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.