National Energy Services Reunited (NASDAQ:NESR) Shares Gap Up – Still a Buy?

National Energy Services Reunited Corp. (NASDAQ:NESR)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $5.85, but opened at $6.55. National Energy Services Reunited shares last traded at $6.24, with a volume of 45,624 shares.

Wall Street Analyst Weigh In

Separately, Barclays lifted their price objective on shares of National Energy Services Reunited from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, March 13th.

National Energy Services Reunited Stock Performance

The stock’s 50 day moving average price is $6.51 and its 200 day moving average price is $7.96. The company has a market cap of $617.78 million, a price-to-earnings ratio of 8.01 and a beta of 0.42. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings data on Wednesday, March 12th. The company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The firm had revenue of $343.68 million during the quarter, compared to analysts’ expectations of $339.84 million. On average, analysts expect that National Energy Services Reunited Corp. will post 1.03 EPS for the current fiscal year.

Institutional Trading of National Energy Services Reunited

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Encompass Capital Advisors LLC bought a new position in shares of National Energy Services Reunited in the fourth quarter valued at $79,108,000. SCF Partners Inc. acquired a new stake in shares of National Energy Services Reunited during the 4th quarter valued at $71,605,000. Fort Baker Capital Management LP acquired a new position in shares of National Energy Services Reunited in the fourth quarter worth $27,670,000. Balyasny Asset Management L.P. purchased a new stake in shares of National Energy Services Reunited during the fourth quarter worth $20,330,000. Finally, GeoSphere Capital Management LLC purchased a new position in National Energy Services Reunited in the fourth quarter valued at about $10,443,000. Institutional investors own 15.55% of the company’s stock.

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.