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

National Energy Services Reunited Corp. (NASDAQ:NESR - Get Free Report)'s stock price dropped 3.7% on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $5.73 and last traded at $5.75. Approximately 117,103 shares changed hands during trading, a decline of 34% from the average daily volume of 176,411 shares. The stock had previously closed at $5.97.

The company reported $0.14 earnings per share 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.

Analyst Ratings Changes

A number of research analysts recently commented on NESR shares. Wall Street Zen raised shares of National Energy Services Reunited from a "hold" rating to a "buy" rating in a research report on Saturday. Barclays boosted their price target on shares of National Energy Services Reunited from $16.00 to $17.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $15.00.

Hedge Funds Weigh In On National Energy Services Reunited

Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new position in National Energy Services Reunited during the fourth quarter valued at approximately $49,000. Acadian Asset Management LLC acquired a new stake in shares of National Energy Services Reunited in the first quarter worth $48,000. National Bank of Canada FI bought a new stake in shares of National Energy Services Reunited during the 4th quarter worth $74,000. TD Waterhouse Canada Inc. acquired a new position in National Energy Services Reunited in the 4th quarter valued at $89,000. Finally, Robotti Robert acquired a new position in National Energy Services Reunited in the 4th quarter valued at $90,000. 15.55% of the stock is owned by institutional investors and hedge funds.

National Energy Services Reunited Stock Up 5.6%

The stock has a market cap of $564.25 million, a P/E ratio of 7.22 and a beta of 0.39. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The firm's fifty day moving average is $6.20 and its 200 day moving average is $7.80.

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.