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

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 $7.29 and last traded at $7.52, with a volume of 216137 shares traded. The stock had previously closed at $7.46.

Analyst Ratings Changes

Several research analysts have recently weighed in on NESR shares. JPMorgan Chase & Co. started coverage on shares of National Energy Services Reunited in a research note on Friday, December 6th. They set an “overweight” rating and a $13.00 price target on the stock. 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 target price on the stock. Finally, Barclays lifted 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 research note on Thursday.

National Energy Services Reunited Stock Performance

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 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 issued its quarterly earnings results 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. As a group, equities analysts expect 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

A number of hedge funds have recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC bought a new position in National Energy Services Reunited in the 4th quarter worth about $79,108,000. SCF Partners Inc. bought a new position in National Energy Services Reunited in the 4th quarter worth about $71,605,000. Fort Baker Capital Management LP bought a new position in National Energy Services Reunited in the 4th quarter worth about $27,670,000. Balyasny Asset Management L.P. bought a new position in National Energy Services Reunited in the 4th quarter worth about $20,330,000. Finally, GeoSphere Capital Management LLC bought a new position in shares of National Energy Services Reunited during the fourth quarter valued at approximately $10,443,000. 15.55% of the stock is currently 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.