National Energy Services Reunited (NASDAQ:NESR) Shares Down 3.7% on Disappointing Earnings

Shares of National Energy Services Reunited Corp. (NASDAQ:NESR - Get Free Report) fell 3.7% during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $5.73 and last traded at $5.75. 117,103 shares were traded during mid-day trading, a decline of 34% from the average session volume of 176,411 shares. The stock had previously closed at $5.97.

The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). The firm had revenue of $303.10 million during the quarter, compared to analysts' expectations of $304.68 million.

Analysts Set New Price Targets

Separately, Barclays raised their target price on shares of 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.

Hedge Funds Weigh In On National Energy Services Reunited

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

National Energy Services Reunited Stock Performance

The firm's 50-day moving average price is $6.27 and its 200-day moving average price is $7.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.10 and a quick ratio of 0.91. The stock has a market cap of $534.35 million, a P/E ratio of 6.93 and a beta of 0.42.

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.