National Energy Services Reunited (NASDAQ:NESR) Shares Down 1.8% – Time to Sell?

National Energy Services Reunited Corp. (NASDAQ:NESR)’s share price was down 1.8% during trading on Tuesday . The stock traded as low as $8.62 and last traded at $8.63. Approximately 5,636 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 129,453 shares. The stock had previously closed at $8.79.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. BTIG Research began coverage on shares of National Energy Services Reunited in a report on Friday, October 25th. They issued a “buy” rating and a $15.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of National Energy Services Reunited in a research report on Friday, December 6th. They issued an “overweight” rating and a $13.00 price target on the stock.

National Energy Services Reunited Price Performance

The stock has a 50-day moving average of $8.83 and a two-hundred day moving average of $9.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.10 and a quick ratio of 0.91.

Hedge Funds Weigh In On National Energy Services Reunited

An institutional investor recently bought a new position in National Energy Services Reunited stock. HITE Hedge Asset Management LLC bought a new position in National Energy Services Reunited Corp. (NASDAQ:NESR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 703,162 shares of the company’s stock, valued at approximately $6,645,000. HITE Hedge Asset Management LLC owned 0.74% of National Energy Services Reunited as of its most recent SEC filing. 15.55% of the stock is 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.