National Energy Services Reunited (NASDAQ:NESR) Shares Up 9.9% - What's Next?

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) shares were up 9.9% during mid-day trading on Wednesday . The company traded as high as $6.63 and last traded at $6.62. Approximately 279,723 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 427,131 shares. The stock had previously closed at $6.02.

Analyst Ratings Changes

A number of analysts have recently issued reports on NESR shares. Piper Sandler started coverage on National Energy Services Reunited in a report on Monday, July 14th. They issued an "overweight" rating and a $11.00 target price for the company. Wall Street Zen lowered National Energy Services Reunited from a "buy" rating to a "hold" rating in a report on Sunday, June 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.20.

National Energy Services Reunited Trading Down 0.6%

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.10 and a quick ratio of 0.90. The company has a fifty day moving average of $6.16 and a 200-day moving average of $7.20. The firm has a market capitalization of $619.21 million, a PE ratio of 7.93 and a beta of 0.36.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.14 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $304.68 million. On average, sell-side analysts anticipate that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On National Energy Services Reunited

Several hedge funds have recently bought and sold shares of the business. Encompass Capital Advisors LLC acquired a new position in National Energy Services Reunited during the fourth quarter worth $79,108,000. SCF Partners Inc. acquired a new position in National Energy Services Reunited during the fourth quarter worth $71,605,000. Fort Baker Capital Management LP acquired a new position in National Energy Services Reunited during the fourth quarter worth $27,670,000. Balyasny Asset Management L.P. acquired a new position in National Energy Services Reunited during the fourth quarter worth $20,330,000. Finally, GeoSphere Capital Management LLC acquired a new position in National Energy Services Reunited during the fourth quarter worth $10,443,000. 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.