National Energy Services Reunited (NASDAQ:NESR) Shares Gap Up – Here’s What Happened

National Energy Services Reunited Corp. (NASDAQ:NESR) gapped up prior to trading on Tuesday . The stock had previously closed at $8.51, but opened at $9.25. National Energy Services Reunited shares last traded at $8.80, with a volume of 20,337 shares traded.

Wall Street Analyst Weigh In

Separately, BTIG Research assumed 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 objective for the company.

National Energy Services Reunited Stock Down 1.9 %

The business’s fifty day moving average is $9.12 and its two-hundred day moving average is $9.27. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 0.89.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Thursday, August 29th. The company reported $0.29 EPS for the quarter. The company had revenue of $324.97 million during the quarter.

Institutional Investors Weigh In On National Energy Services Reunited

A hedge fund recently bought a new stake 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 third quarter, according to the company in its most recent disclosure with the SEC. The fund 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 at the end of the most recent quarter. 15.55% of the stock is owned by hedge funds and other 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.