National Energy Services Reunited (NASDAQ:NESR) Shares Down 7.4% – Here’s Why

National Energy Services Reunited Corp. (NASDAQ:NESR) shares were down 7.4% on Thursday . The company traded as low as $7.43 and last traded at $7.49. Approximately 166,653 shares traded hands during trading, a decline of 11% from the average daily volume of 186,485 shares. The stock had previously closed at $8.09.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NESR shares. Barclays raised their price target on National Energy Services Reunited from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. assumed coverage on National Energy Services Reunited in a research note on Friday, December 6th. They issued an “overweight” rating and a $13.00 price objective on the stock. Finally, Benchmark assumed coverage on National Energy Services Reunited in a research note on Tuesday, January 21st. They issued a “buy” rating and a $15.00 price objective on the stock.

National Energy Services Reunited Trading Up 1.9 %

The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 0.33. The company has a 50-day simple moving average of $8.85 and a 200 day simple moving average of $8.97.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $343.68 million during the quarter, compared to the consensus estimate of $339.84 million. On average, research analysts forecast that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in shares of National Energy Services Reunited during the 4th quarter worth approximately $41,000. Tower Research Capital LLC TRC acquired a new stake in National Energy Services Reunited in the 4th quarter valued at $49,000. National Bank of Canada FI acquired a new stake in National Energy Services Reunited in the 4th quarter valued at $74,000. TD Waterhouse Canada Inc. acquired a new stake in National Energy Services Reunited in the 4th quarter valued at $89,000. Finally, Robotti Robert bought a new position in National Energy Services Reunited in the 4th quarter valued at $90,000. 15.55% of the stock is owned by institutional investors.

National Energy Services Reunited Company Profile

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.