HITE Hedge Asset Management LLC Invests $6.65 Million in National Energy Services Reunited Corp. (NASDAQ:NESR)

HITE Hedge Asset Management LLC purchased a new stake in National Energy Services Reunited Corp. (NASDAQ:NESR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 703,162 shares of the company’s stock, valued at approximately $6,645,000. HITE Hedge Asset Management LLC owned 0.74% of National Energy Services Reunited as of its most recent SEC filing.

National Energy Services Reunited Price Performance

Shares of NESR opened at $9.13 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $8.99 and a two-hundred day simple moving average of $9.19. National Energy Services Reunited Corp. has a 52-week low of $3.80 and a 52-week high of $10.30.

Wall Street Analyst Weigh In

Separately, BTIG Research began coverage on shares of National Energy Services Reunited in a report on Friday, October 25th. They set a “buy” rating and a $15.00 price target on the 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.