National Energy Services Reunited (NASDAQ:NESR) Sees Large Volume Increase – What’s Next?

National Energy Services Reunited (NASDAQ:NESR) shares saw strong trading volume on Tuesday . 789,695 shares changed hands during mid-day trading, an increase of 208% from the previous session’s volume of 256,143 shares.The stock last traded at $5.95 and had previously closed at $6.02.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NESR shares. Wall Street Zen lowered shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a report on Sunday, June 15th. Barclays boosted their target price on National Energy Services Reunited from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, March 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

National Energy Services Reunited Trading Up 5.6%

The business’s fifty day moving average is $6.18 and its 200 day moving average is $7.49. The firm has a market capitalization of $612.94 million, a price-to-earnings ratio of 7.83 and a beta of 0.39. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.26.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results 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). The business had revenue of $303.10 million during the quarter, compared to analyst estimates of $304.68 million. National Energy Services Reunited had a net margin of 5.87% and a return on equity of 10.96%. Equities analysts predict that National Energy Services Reunited will post 1.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tejara Capital Ltd bought a new position in shares of National Energy Services Reunited during the fourth quarter worth approximately $3,600,000. Sei Investments Co. acquired a new stake in shares of National Energy Services Reunited during the fourth quarter worth $328,000. JPMorgan Chase & Co. bought a new stake in shares of National Energy Services Reunited in the fourth quarter valued at about $394,000. Robotti Robert acquired a new position in shares of National Energy Services Reunited in the fourth quarter valued at about $90,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in National Energy Services Reunited during the fourth quarter worth about $107,000. Institutional investors own 15.55% of the company’s stock.

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.