National Energy Services Reunited (NASDAQ:NESR) Sees Strong Trading Volume – Should You Buy?

National Energy Services Reunited Corp. (NASDAQ:NESR) shares saw unusually-high trading volume on Tuesday . Approximately 1,880,766 shares traded hands during mid-day trading, an increase of 1,265% from the previous session’s volume of 137,807 shares.The stock last traded at $7.42 and had previously closed at $7.36.

Analysts Set New Price Targets

Several research firms have commented on NESR. Barclays boosted their target price on National Energy Services Reunited from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, March 13th. JPMorgan Chase & Co. assumed coverage on shares of National Energy Services Reunited in a research note on Friday, December 6th. They issued an “overweight” rating and a $13.00 price target on the stock. Finally, Benchmark started coverage on shares of National Energy Services Reunited in a research note on Tuesday, January 21st. They set a “buy” rating and a $15.00 price objective for the company.

National Energy Services Reunited Price Performance

The business has a fifty day moving average of $8.62 and a 200 day moving average of $8.82. The firm has a market cap of $700.96 million, a P/E ratio of 9.17 and a beta of 0.63. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 0.33.

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, meeting analysts’ consensus estimates of $0.30. The business had revenue of $343.68 million during the quarter, compared to the consensus estimate of $339.84 million. On average, sell-side analysts anticipate that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current year.

Hedge Funds Weigh In On National Energy Services Reunited

Several institutional investors and hedge funds have recently modified their holdings of NESR. R Squared Ltd acquired a new position in National Energy Services Reunited in the 4th quarter valued at $41,000. Tower Research Capital LLC TRC bought a new position in National Energy Services Reunited in the 4th quarter valued at approximately $49,000. National Bank of Canada FI acquired a new stake in National Energy Services Reunited in the fourth quarter valued at approximately $74,000. TD Waterhouse Canada Inc. bought a new stake in shares of National Energy Services Reunited during the fourth quarter worth $89,000. Finally, Robotti Robert bought a new position in shares of National Energy Services Reunited in the 4th quarter valued at $90,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

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.