National Energy Services Reunited (NASDAQ:NESR) Raised to “Hold” at Zacks Research

National Energy Services Reunited (NASDAQ:NESR) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

NESR has been the subject of a number of other research reports. Wall Street Zen downgraded National Energy Services Reunited from a “buy” rating to a “hold” rating in a report on Saturday. Piper Sandler lifted their target price on shares of National Energy Services Reunited from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. National Bankshares set a $16.00 price objective on shares of National Energy Services Reunited in a report on Tuesday, September 9th. Maxim Group initiated coverage on National Energy Services Reunited in a report on Tuesday, September 9th. They set a “buy” rating and a $16.00 target price on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, National Energy Services Reunited currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.33.

National Energy Services Reunited Trading Down 2.3%

National Energy Services Reunited stock traded down $0.31 during trading hours on Monday, reaching $13.00. The stock had a trading volume of 13,581 shares, compared to its average volume of 588,221. The company has a fifty day simple moving average of $11.01 and a 200-day simple moving average of $8.16. National Energy Services Reunited has a 52 week low of $5.20 and a 52 week high of $14.50. The stock has a market cap of $1.25 billion, a PE ratio of 16.94 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.11 and a quick ratio of 0.93.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Wednesday, August 20th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $327.37 million for the quarter, compared to analysts’ expectations of $316.07 million. National Energy Services Reunited had a return on equity of 9.91% and a net margin of 5.57%. Analysts forecast that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Trading of National Energy Services Reunited

Several institutional investors have recently added to or reduced their stakes in the business. Penn Capital Management Company LLC increased its holdings in National Energy Services Reunited by 111.9% in the 1st quarter. Penn Capital Management Company LLC now owns 87,630 shares of the company’s stock worth $645,000 after buying an additional 46,276 shares in the last quarter. Interval Partners LP bought a new stake in shares of National Energy Services Reunited in the first quarter worth approximately $585,000. Boston Partners purchased a new stake in National Energy Services Reunited in the first quarter worth approximately $361,000. Kazazian Asset Management LLC purchased a new stake in National Energy Services Reunited in the first quarter worth approximately $422,000. Finally, Tejara Capital Ltd raised its stake in National Energy Services Reunited by 9.5% during the 1st quarter. Tejara Capital Ltd now owns 439,917 shares of the company’s stock valued at $3,238,000 after buying an additional 38,152 shares during the last quarter. 15.55% of the stock is currently owned by hedge funds and other 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.