National Energy Services Reunited (NASDAQ:NESR) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of National Energy Services Reunited (NASDAQ:NESR) from a buy rating to a hold rating in a report released on Sunday morning.

Separately, Barclays increased their price target 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, March 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.00.

National Energy Services Reunited Stock Performance

Shares of NESR stock opened at $6.27 on Friday. The company has a market cap of $604.74 million, a P/E ratio of 7.74 and a beta of 0.39. The firm has a fifty day moving average price of $6.17 and a 200 day moving average price of $7.68. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 0.26. National Energy Services Reunited has a 12 month low of $5.20 and a 12 month high of $9.89.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.06). National Energy Services Reunited had a return on equity of 10.96% and a net margin of 5.87%. The business had revenue of $303.10 million for the quarter, compared to analyst estimates of $304.68 million. Sell-side analysts predict that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of National Energy Services Reunited

A number of hedge funds and other institutional investors have recently made changes to their positions in NESR. Acadian Asset Management LLC purchased a new position in National Energy Services Reunited during the 1st quarter worth approximately $48,000. Tower Research Capital LLC TRC acquired a new stake in shares of National Energy Services Reunited in the fourth quarter valued at approximately $49,000. National Bank of Canada FI acquired a new stake in shares of National Energy Services Reunited in the fourth quarter valued at approximately $74,000. EntryPoint Capital LLC purchased a new position in shares of National Energy Services Reunited during the first quarter worth approximately $81,000. Finally, TD Waterhouse Canada Inc. acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at $89,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

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.