MMCAP International Inc. SPC Makes New Investment in National Energy Services Reunited $NESR

MMCAP International Inc. SPC bought a new stake in shares of National Energy Services Reunited (NASDAQ:NESR) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 601,357 shares of the company’s stock, valued at approximately $3,620,000.

A number of other hedge funds also recently modified their holdings of the business. Victory Capital Management Inc. acquired a new stake in shares of National Energy Services Reunited in the first quarter worth $235,000. Y Intercept Hong Kong Ltd purchased a new stake in National Energy Services Reunited in the 1st quarter worth about $92,000. XTX Topco Ltd acquired a new stake in National Energy Services Reunited during the 1st quarter worth about $115,000. Kazazian Asset Management LLC purchased a new position in National Energy Services Reunited during the 1st quarter valued at about $422,000. Finally, Russell Investments Group Ltd. lifted its position in shares of National Energy Services Reunited by 6.1% in the first quarter. Russell Investments Group Ltd. now owns 212,055 shares of the company’s stock worth $1,561,000 after purchasing an additional 12,216 shares in the last quarter. Hedge funds and other institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Trading Down 0.3%

Shares of NESR stock opened at $12.38 on Friday. The firm has a market capitalization of $1.19 billion, a P/E ratio of 16.08 and a beta of 0.38. National Energy Services Reunited has a 1 year low of $5.20 and a 1 year high of $14.50. The firm’s fifty day simple moving average is $10.86 and its 200 day simple moving average is $8.04. The company has a current ratio of 1.11, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings data on Wednesday, August 20th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. National Energy Services Reunited had a net margin of 5.57% and a return on equity of 9.91%. The company had revenue of $327.37 million for the quarter, compared to the consensus estimate of $316.07 million. As a group, sell-side analysts predict that National Energy Services Reunited will post 1.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NESR shares. Piper Sandler boosted their price objective on shares of National Energy Services Reunited from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. JPMorgan Chase & Co. upped their price target on shares of National Energy Services Reunited from $10.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Maxim Group initiated coverage on National Energy Services Reunited in a report on Tuesday, September 9th. They set a “buy” rating and a $16.00 price objective for the company. Zacks Research downgraded National Energy Services Reunited from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, National Energy Services Reunited presently has an average rating of “Moderate Buy” and a consensus target price of $16.33.

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.