National Energy Services Reunited (NASDAQ:NESR) Cut to “Hold” at Wall Street Zen

National Energy Services Reunited (NASDAQ:NESR) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other equities analysts have also recently weighed in on the company. Zacks Research cut National Energy Services Reunited from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. JPMorgan Chase & Co. raised their target price on shares of National Energy Services Reunited from $10.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, October 10th. National Bankshares set a $16.00 price target on shares of National Energy Services Reunited in a research report on Tuesday, September 9th. Piper Sandler increased their price objective on shares of National Energy Services Reunited from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, Maxim Group began coverage on shares of National Energy Services Reunited in a research note on Tuesday, September 9th. They issued a “buy” rating and a $16.00 price objective for the company. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.33.

National Energy Services Reunited Price Performance

Shares of National Energy Services Reunited stock traded down $0.04 during trading hours on Friday, hitting $12.38. The company’s stock had a trading volume of 1,125,426 shares, compared to its average volume of 1,191,170. The business has a 50 day moving average price of $10.86 and a two-hundred day moving average price of $8.04. The company has a market cap of $1.19 billion, a PE ratio of 16.08 and a beta of 0.38. National Energy Services Reunited has a 12-month low of $5.20 and a 12-month high of $14.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 1.11.

National Energy Services Reunited (NASDAQ:NESR) last released its earnings results on Wednesday, August 20th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $327.37 million for the quarter, compared to the consensus estimate of $316.07 million. National Energy Services Reunited had a net margin of 5.57% and a return on equity of 9.91%. Analysts expect that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of National Energy Services Reunited

A number of large investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue bought a new position in shares of National Energy Services Reunited in the third quarter worth about $34,000. Legal & General Group Plc purchased a new stake in National Energy Services Reunited in the 2nd quarter valued at about $34,000. Ameritas Investment Partners Inc. bought a new position in National Energy Services Reunited in the 2nd quarter worth about $37,000. Acadian Asset Management LLC bought a new position in National Energy Services Reunited in the 1st quarter worth about $48,000. Finally, Osaic Holdings Inc. purchased a new position in shares of National Energy Services Reunited during the second quarter worth approximately $73,000. 15.55% of the stock is owned by hedge funds and other institutional investors.

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.