National Energy Services Reunited (NASDAQ:NESR) Reaches New 12-Month Low – Should You Sell?

National Energy Services Reunited Corp. (NASDAQ:NESR) shares reached a new 52-week low on Monday . The stock traded as low as $7.54 and last traded at $7.54, with a volume of 163773 shares. The stock had previously closed at $7.92.

Wall Street Analyst Weigh In

NESR has been the subject of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on shares of National Energy Services Reunited in a report on Friday, December 6th. They set an “overweight” rating and a $13.00 price objective for the company. Barclays reaffirmed an “overweight” rating and issued a $16.00 price target on shares of National Energy Services Reunited in a research report on Friday, January 31st. Finally, Benchmark assumed coverage on National Energy Services Reunited in a report on Tuesday, January 21st. They set a “buy” rating and a $15.00 price objective for the company.

National Energy Services Reunited Stock Performance

The business’s 50-day moving average is $8.90 and its two-hundred day moving average is $8.99. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Equities research analysts predict that National Energy Services Reunited Corp. will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On National Energy Services Reunited

Hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank purchased a new stake in shares of National Energy Services Reunited during the 4th quarter worth approximately $90,000. Alpine Global Management LLC purchased a new stake in National Energy Services Reunited in the 4th quarter worth about $102,000. Two Sigma Advisers LP bought a new stake in National Energy Services Reunited in the 4th quarter valued at about $127,000. Two Sigma Investments LP purchased a new stake in National Energy Services Reunited during the fourth quarter valued at about $381,000. Finally, Shay Capital LLC bought a new position in National Energy Services Reunited during the fourth quarter worth about $1,030,000. 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.