National Energy Services Reunited (NASDAQ:NESR) Reaches New 12-Month Low – What’s Next?

Shares of National Energy Services Reunited Corp. (NASDAQ:NESR) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $7.54 and last traded at $7.54, with a volume of 163773 shares. The stock had previously closed at $7.92.

Wall Street Analyst Weigh In

A number of analysts have commented on NESR shares. Barclays reiterated an “overweight” rating and set a $16.00 target price on shares of National Energy Services Reunited in a research report on Friday, January 31st. JPMorgan Chase & Co. initiated coverage on shares of National Energy Services Reunited in a research report on Friday, December 6th. They issued an “overweight” rating and a $13.00 price objective on the stock. Finally, Benchmark started coverage on shares of 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 Stock Down 5.1 %

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 firm has a 50-day simple moving average of $8.95 and a two-hundred day simple moving average of $9.01.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC purchased a new stake in shares of National Energy Services Reunited during the third quarter worth about $6,645,000. R Squared Ltd acquired a new stake in National Energy Services Reunited during the fourth quarter worth approximately $41,000. Iridian Asset Management LLC CT purchased a new stake in National Energy Services Reunited in the 4th quarter worth approximately $1,378,000. Tejara Capital Ltd acquired a new position in National Energy Services Reunited in the 4th quarter valued at $3,600,000. Finally, Sei Investments Co. purchased a new position in shares of National Energy Services Reunited during the 4th quarter worth $328,000. Institutional investors and hedge funds 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.