National Energy Services Reunited (NASDAQ:NESR) Trading Down 5% - Here's Why

National Energy Services Reunited Corp. (NASDAQ:NESR - Get Free Report) was down 5% during trading on Friday . The company traded as low as $5.91 and last traded at $5.90. Approximately 289,419 shares traded hands during mid-day trading, an increase of 80% from the average daily volume of 161,021 shares. The stock had previously closed at $6.21.

Analysts Set New Price Targets

Separately, Barclays lifted their price target on 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.

National Energy Services Reunited Price Performance

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 business's 50 day moving average price is $6.59 and its 200 day moving average price is $8.02. The stock has a market capitalization of $564.25 million, a P/E ratio of 7.31 and a beta of 0.42.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last posted its earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share for the quarter, meeting analysts' consensus estimates of $0.30. The firm had revenue of $343.68 million during the quarter, compared to the consensus estimate of $339.84 million. Sell-side analysts forecast that National Energy Services Reunited Corp. will post 1.03 EPS for the current year.

Institutional Trading of National Energy Services Reunited

Large investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in National Energy Services Reunited in the fourth quarter worth approximately $41,000. Tower Research Capital LLC TRC purchased a new position in National Energy Services Reunited during the fourth quarter valued at $49,000. Acadian Asset Management LLC purchased a new position in National Energy Services Reunited during the first quarter valued at $48,000. National Bank of Canada FI bought a new stake in National Energy Services Reunited during the fourth quarter valued at about $74,000. Finally, TD Waterhouse Canada Inc. purchased a new stake in National Energy Services Reunited in the fourth quarter worth about $89,000. 15.55% of the stock is currently owned by institutional investors.

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.

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