Barclays Forecasts Strong Price Appreciation for National Energy Services Reunited (NASDAQ:NESR) Stock

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) had its price target increased by equities research analysts at Barclays from $16.00 to $17.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price target would suggest a potential upside of 113.17% from the stock's previous close.

NESR has been the topic of several other reports. Benchmark began coverage on National Energy Services Reunited in a report on Tuesday, January 21st. They set a "buy" rating and a $15.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on National Energy Services Reunited in a report on Friday, December 6th. They issued an "overweight" rating and a $13.00 price target on the stock.

National Energy Services Reunited Price Performance

NESR stock traded down $0.12 during trading on Thursday, reaching $7.98. The company's stock had a trading volume of 15,326 shares, compared to its average volume of 183,437. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The company's fifty day moving average is $8.88 and its 200-day moving average is $8.99. National Energy Services Reunited has a 1 year low of $7.36 and a 1 year high of $10.30.

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National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Analysts predict that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NESR. HITE Hedge Asset Management LLC purchased a new stake in shares of National Energy Services Reunited in the 3rd quarter valued at approximately $6,645,000. R Squared Ltd acquired a new stake in National Energy Services Reunited in the fourth quarter valued at $41,000. Iridian Asset Management LLC CT purchased a new stake in National Energy Services Reunited during the 4th quarter worth about $1,378,000. Tejara Capital Ltd purchased a new position in shares of National Energy Services Reunited in the 4th quarter valued at about $3,600,000. Finally, Sei Investments Co. purchased a new stake in National Energy Services Reunited during the fourth quarter worth approximately $328,000. 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.

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