National Energy Services Reunited (NASDAQ:NESR) Stock Price Down 15.1% – Here’s What Happened

National Energy Services Reunited Corp. (NASDAQ:NESR) shares traded down 15.1% during trading on Friday . The company traded as low as $5.91 and last traded at $6.00. 224,070 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 231,056 shares. The stock had previously closed at $7.06.

Analyst Upgrades and Downgrades

NESR has been the subject of a number of analyst reports. Benchmark started coverage on National Energy Services Reunited in a research report on Tuesday, January 21st. They set a “buy” rating and a $15.00 price objective for the company. Barclays raised their price target on National Energy Services Reunited from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, March 13th.

National Energy Services Reunited Stock Performance

The company has a market capitalization of $596.45 million, a PE ratio of 7.76 and a beta of 0.35. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average is $8.44 and its two-hundred day moving average is $8.76.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $343.68 million during the quarter, compared to analysts’ expectations of $339.84 million. Equities research analysts predict 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 have recently made changes to their positions in the stock. R Squared Ltd bought a new position in National Energy Services Reunited during the fourth quarter valued at approximately $41,000. Tower Research Capital LLC TRC purchased a new position in shares of National Energy Services Reunited in the 4th quarter worth $49,000. National Bank of Canada FI bought a new stake in shares of National Energy Services Reunited in the fourth quarter worth $74,000. TD Waterhouse Canada Inc. purchased a new stake in National Energy Services Reunited during the fourth quarter valued at $89,000. Finally, Robotti Robert bought a new position in National Energy Services Reunited in the fourth quarter valued at about $90,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

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.