National Energy Services Reunited (NASDAQ:NESR) Stock Price Up 5.8% – Time to Buy?

Shares of National Energy Services Reunited Corp. (NASDAQ:NESR) rose 5.8% during mid-day trading on Monday . The stock traded as high as $9.42 and last traded at $9.35. Approximately 118,802 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 130,467 shares. The stock had previously closed at $8.84.

Analyst Ratings Changes

Separately, BTIG Research initiated coverage on shares of National Energy Services Reunited in a research note on Friday, October 25th. They issued a “buy” rating and a $15.00 price target on the stock.

National Energy Services Reunited Stock Down 3.1 %

The business’s 50-day moving average price is $8.97 and its 200 day moving average price is $9.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.10 and a quick ratio of 0.91.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in National Energy Services Reunited stock. HITE Hedge Asset Management LLC bought a new position in shares of National Energy Services Reunited Corp. (NASDAQ:NESR) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 703,162 shares of the company’s stock, valued at approximately $6,645,000. HITE Hedge Asset Management LLC owned 0.74% of National Energy Services Reunited as of its most recent filing with the SEC. 15.55% of the stock is currently owned by hedge funds and other 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.