National Energy Services Reunited (NASDAQ:NESR) Sees Strong Trading Volume – Here’s Why

National Energy Services Reunited Corp. (NASDAQ:NESR) shares saw unusually-strong trading volume on Tuesday . Approximately 1,880,766 shares changed hands during 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.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Benchmark assumed coverage on 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. Barclays increased their price target on National Energy Services Reunited from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. initiated coverage on shares of National Energy Services Reunited in a research report on Friday, December 6th. They set an “overweight” rating and a $13.00 target price on the stock.

National Energy Services Reunited Stock Down 0.2 %

The firm has a market cap of $700.96 million, a P/E ratio of 9.17 and a beta of 0.63. The stock’s 50 day simple moving average is $8.62 and its 200 day simple moving average is $8.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.10.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $343.68 million during the quarter, compared to the consensus estimate of $339.84 million. Research analysts anticipate that National Energy Services Reunited Corp. will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

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

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.