National Energy Services Reunited (NASDAQ:NESR) Hits New 52-Week Low – Should You Sell?

National Energy Services Reunited Corp. (NASDAQ:NESR)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $7.29 and last traded at $7.52, with a volume of 216137 shares. The stock had previously closed at $7.46.

Analysts Set New Price Targets

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

National Energy Services Reunited Stock Up 0.8 %

The firm’s 50-day simple moving average is $8.84 and its 200-day simple moving average is $8.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.10.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Wednesday, March 12th. The company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $343.68 million for the quarter, compared to the consensus estimate of $339.84 million. Sell-side analysts predict that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On National Energy Services Reunited

Several hedge funds and other institutional investors have recently modified their holdings of NESR. R Squared Ltd bought a new position in shares of National Energy Services Reunited during the fourth quarter valued at about $41,000. Tower Research Capital LLC TRC bought a new position in National Energy Services Reunited in the fourth quarter worth about $49,000. National Bank of Canada FI bought a new position in National Energy Services Reunited in the fourth quarter worth about $74,000. TD Waterhouse Canada Inc. bought a new position in National Energy Services Reunited in the fourth quarter worth about $89,000. Finally, Robotti Robert bought a new position in National Energy Services Reunited in the fourth quarter worth about $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.