Diametric Capital LP Invests $408,000 in National Energy Services Reunited Corp. (NASDAQ:NESR)

Diametric Capital LP acquired a new stake in shares of National Energy Services Reunited Corp. (NASDAQ:NESR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 45,589 shares of the company's stock, valued at approximately $408,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NESR. R Squared Ltd bought a new position in shares of National Energy Services Reunited in the fourth quarter worth approximately $41,000. National Bank of Canada FI purchased a new stake in National Energy Services Reunited in the 4th quarter worth $74,000. Robotti Robert purchased a new stake in National Energy Services Reunited in the 4th quarter worth $90,000. Arrowstreet Capital Limited Partnership bought a new stake in National Energy Services Reunited during the fourth quarter valued at about $107,000. Finally, Sei Investments Co. purchased a new position in shares of National Energy Services Reunited in the fourth quarter valued at about $328,000. 15.55% of the stock is owned by hedge funds and other institutional investors.

National Energy Services Reunited Price Performance

Shares of NESR traded down $0.85 during mid-day trading on Friday, hitting $6.21. 565,867 shares of the stock were exchanged, compared to its average volume of 140,571. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.10. The company has a market cap of $596.45 million, a PE ratio of 7.76 and a beta of 0.35. National Energy Services Reunited Corp. has a 52-week low of $5.91 and a 52-week high of $10.30. The firm has a 50-day moving average of $8.44 and a two-hundred day moving average of $8.76.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.30. The business had revenue of $343.68 million for the quarter, compared to analysts' expectations of $339.84 million. On average, equities analysts predict that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

NESR has been the topic of several recent analyst reports. Benchmark began coverage on National Energy Services Reunited in a research note on Tuesday, January 21st. They set a "buy" rating and a $15.00 target price on the stock. JPMorgan Chase & Co. began coverage on shares of National Energy Services Reunited in a research report on Friday, December 6th. They set an "overweight" rating and a $13.00 target price for the company. Finally, Barclays raised their target price 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.

National Energy Services Reunited 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.