National Energy Services Reunited (NASDAQ:NESR) Hits New 1-Year Low – What’s Next?

National Energy Services Reunited Corp. (NASDAQ:NESR) reached a new 52-week low during trading on Monday . The stock traded as low as $7.29 and last traded at $7.52, with a volume of 216137 shares traded. The stock had previously closed at $7.46.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JPMorgan Chase & Co. assumed 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 target price for the company. Barclays upped their target price on shares of 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. Finally, Benchmark assumed coverage on shares of National Energy Services Reunited in a research report on Tuesday, January 21st. They issued a “buy” rating and a $15.00 target price for the company.

National Energy Services Reunited Stock Up 0.4 %

The firm’s fifty day moving average price is $8.81 and its 200-day moving average price is $8.93. 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 firm has a market capitalization of $736.85 million, a P/E ratio of 9.65 and a beta of 0.63.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings data on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $343.68 million during the quarter, compared to the consensus estimate of $339.84 million. As a group, equities research analysts forecast that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current year.

Institutional Trading of National Energy Services Reunited

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HITE Hedge Asset Management LLC acquired a new stake in National Energy Services Reunited during the third quarter valued at approximately $6,645,000. Iridian Asset Management LLC CT acquired a new stake in National Energy Services Reunited during the fourth quarter valued at approximately $1,378,000. R Squared Ltd acquired a new stake in National Energy Services Reunited during the fourth quarter valued at approximately $41,000. Tejara Capital Ltd acquired a new stake in National Energy Services Reunited during the fourth quarter valued at approximately $3,600,000. Finally, Dodge & Cox acquired a new stake in National Energy Services Reunited during the fourth quarter valued at approximately $6,882,000. 15.55% of the stock is owned by institutional investors and hedge funds.

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.