National Energy Services Reunited (NASDAQ:NESR) Sees Large Volume Increase – Time to Buy?

Shares of National Energy Services Reunited Corp. (NASDAQ:NESR) saw strong trading volume on Tuesday . 1,880,766 shares were traded 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.

Analysts Set New Price Targets

A number of research firms recently commented on NESR. Barclays boosted their target price on National Energy Services Reunited from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th. Benchmark initiated coverage on National Energy Services Reunited in a research report on Tuesday, January 21st. They set a “buy” rating and a $15.00 target price for the company. Finally, JPMorgan Chase & Co. began coverage on shares of National Energy Services Reunited in a research note on Friday, December 6th. They issued an “overweight” rating and a $13.00 price objective for the company.

National Energy Services Reunited Stock Down 1.3 %

The company has a market cap of $707.86 million, a P/E ratio of 9.51 and a beta of 0.35. The company has a 50-day simple moving average of $8.55 and a 200 day simple moving average of $8.80. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33.

National Energy Services Reunited (NASDAQ:NESR) last posted 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 company had revenue of $343.68 million for the quarter, compared to the consensus estimate of $339.84 million. On average, equities analysts anticipate that National Energy Services Reunited Corp. will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NESR. Toronto Dominion Bank bought a new stake in National Energy Services Reunited during the 4th quarter valued at $90,000. Alpine Global Management LLC bought a new stake in National Energy Services Reunited during the fourth quarter valued at about $102,000. Two Sigma Advisers LP purchased a new position in National Energy Services Reunited in the fourth quarter valued at about $127,000. Two Sigma Investments LP purchased a new stake in shares of National Energy Services Reunited during the fourth quarter valued at about $381,000. Finally, Shay Capital LLC purchased a new position in shares of National Energy Services Reunited in the 4th quarter worth approximately $1,030,000. Hedge funds and other institutional investors 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.