National Energy Services Reunited (NASDAQ:NESR) Shares Up 8.5% - Still a Buy?

National Energy Services Reunited (NASDAQ:NESR - Get Free Report)'s stock price shot up 8.5% on Tuesday . The stock traded as high as $6.76 and last traded at $6.76. 262,595 shares traded hands during trading, a decline of 3% from the average session volume of 269,334 shares. The stock had previously closed at $6.23.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NESR. Barclays boosted their price objective on shares of National Energy Services Reunited from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Wall Street Zen cut shares of National Energy Services Reunited from a "buy" rating to a "hold" rating in a report on Sunday, June 15th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, National Energy Services Reunited currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

National Energy Services Reunited Stock Performance

The company has a market cap of $614.87 million, a PE ratio of 7.83 and a beta of 0.36. 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's 50-day simple moving average is $6.19 and its 200 day simple moving average is $7.41.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced 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). 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 for the quarter, compared to analysts' expectations of $304.68 million. As a group, equities analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current year.

Hedge Funds Weigh In On National Energy Services Reunited

A number of institutional investors and hedge funds have recently made changes to their positions in NESR. Acadian Asset Management LLC acquired a new position in shares of National Energy Services Reunited during the 1st quarter worth $48,000. Tower Research Capital LLC TRC acquired a new stake in National Energy Services Reunited in the 4th quarter valued at about $49,000. National Bank of Canada FI acquired a new stake in National Energy Services Reunited in the 4th quarter valued at about $74,000. EntryPoint Capital LLC acquired a new stake in National Energy Services Reunited in the 1st quarter valued at about $81,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in National Energy Services Reunited in the 4th quarter valued at about $89,000. 15.55% of the stock is owned by institutional investors and hedge funds.

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.