National Energy Services Reunited (NASDAQ:NESR) Sets New 1-Year High – Here’s Why

National Energy Services Reunited (NASDAQ:NESR)’s share price reached a new 52-week high on Wednesday . The company traded as high as $14.69 and last traded at $14.7140, with a volume of 1694738 shares trading hands. The stock had previously closed at $13.94.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Piper Sandler lifted their price target on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Wall Street Zen downgraded National Energy Services Reunited from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. National Bankshares set a $16.00 price target on National Energy Services Reunited in a research report on Tuesday, September 9th. Zacks Research upgraded National Energy Services Reunited from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Monday. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.86.

National Energy Services Reunited Stock Performance

The business has a 50 day moving average of $12.16 and a 200-day moving average of $8.96. The company has a market capitalization of $1.42 billion, a P/E ratio of 20.16 and a beta of 0.27. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.92 and a current ratio of 1.10.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Thursday, November 13th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. National Energy Services Reunited had a return on equity of 8.24% and a net margin of 5.53%.The business had revenue of $295.32 million during the quarter, compared to analyst estimates of $292.46 million. On average, sell-side analysts predict that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NESR. XTX Topco Ltd bought a new position in shares of National Energy Services Reunited in the first quarter worth $115,000. Russell Investments Group Ltd. grew its position in National Energy Services Reunited by 6.1% during the first quarter. Russell Investments Group Ltd. now owns 212,055 shares of the company’s stock worth $1,561,000 after buying an additional 12,216 shares in the last quarter. Boston Partners bought a new position in National Energy Services Reunited in the 1st quarter worth about $361,000. Tejara Capital Ltd raised its holdings in shares of National Energy Services Reunited by 9.5% in the 1st quarter. Tejara Capital Ltd now owns 439,917 shares of the company’s stock valued at $3,238,000 after acquiring an additional 38,152 shares in the last quarter. Finally, HITE Hedge Asset Management LLC boosted its position in shares of National Energy Services Reunited by 7.6% during the 1st quarter. HITE Hedge Asset Management LLC now owns 782,239 shares of the company’s stock valued at $5,757,000 after acquiring an additional 55,004 shares during the last quarter. 15.55% of the stock is 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.