National Energy Services Reunited (NASDAQ:NESR) Reaches New 52-Week Low – Here’s Why

Shares of National Energy Services Reunited Corp. (NASDAQ:NESR) reached a new 52-week low during trading on Monday . The company 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.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NESR shares. Benchmark started coverage on National Energy Services Reunited in a report on Tuesday, January 21st. They issued a “buy” rating and a $15.00 target price on the stock. JPMorgan Chase & Co. started coverage on National Energy Services Reunited in a report on Friday, December 6th. They issued an “overweight” rating and a $13.00 price target for the company. Finally, Barclays restated an “overweight” rating and set a $16.00 price objective on shares of National Energy Services Reunited in a research note on Friday, January 31st.

National Energy Services Reunited Stock Down 5.1 %

The firm’s 50 day moving average price is $8.95 and its two-hundred day moving average price is $9.01. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 0.33.

Institutional Trading of National Energy Services Reunited

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

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.