National Energy Services Reunited (NASDAQ:NESR) Sets New 1-Year Low – Here’s What Happened

Shares of National Energy Services Reunited Corp. (NASDAQ:NESR) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $7.16 and last traded at $7.47, with a volume of 2269528 shares traded. The stock had previously closed at $7.36.

Analyst Ratings Changes

NESR has been the subject of a number of research reports. JPMorgan Chase & Co. started coverage on National Energy Services Reunited in a research note on Friday, December 6th. They set an “overweight” rating and a $13.00 price target for the company. 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 price target on the stock. Finally, Barclays increased 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 Price Performance

The firm has a market cap of $712.99 million, a P/E ratio of 9.34 and a beta of 0.63. 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 stock’s 50-day simple moving average is $8.62 and its two-hundred day simple moving average is $8.82.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings data on Wednesday, March 12th. The company reported $0.30 earnings per share 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. Equities research analysts forecast that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of National Energy Services Reunited

Several institutional investors and hedge funds have recently made changes to their positions in NESR. R Squared Ltd purchased a new position in National Energy Services Reunited in the 4th quarter worth about $41,000. Tower Research Capital LLC TRC purchased a new position in shares of National Energy Services Reunited during the fourth quarter worth approximately $49,000. National Bank of Canada FI bought a new stake in shares of National Energy Services Reunited during the fourth quarter valued at approximately $74,000. TD Waterhouse Canada Inc. purchased a new stake in shares of National Energy Services Reunited in the fourth quarter valued at approximately $89,000. Finally, Robotti Robert bought a new position in National Energy Services Reunited in the fourth quarter worth approximately $90,000. 15.55% of the stock is currently 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.