National Energy Services Reunited (NASDAQ:NESR) Sets New 12-Month Low - Should You Sell?

National Energy Services Reunited Corp. (NASDAQ:NESR - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $7.29 and last traded at $7.52, with a volume of 216137 shares. The stock had previously closed at $7.46.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays upped their price target on 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. Benchmark initiated coverage on shares of National Energy Services Reunited in a research report on Tuesday, January 21st. They issued a "buy" rating and a $15.00 target price on the stock. Finally, JPMorgan Chase & Co. initiated 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 price target for the company.

National Energy Services Reunited Price Performance

The company has a fifty day moving average of $8.78 and a 200-day moving average of $8.91. The stock has a market cap of $760.71 million, a PE ratio of 9.96 and a beta of 0.63. 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 - Get Free Report) last issued its quarterly 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. The business had revenue of $343.68 million for the quarter, compared to analyst estimates of $339.84 million. Sell-side analysts expect that National Energy Services Reunited Corp. will post 1.03 EPS for the current fiscal year.

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Hedge Funds Weigh In On National Energy Services Reunited

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NESR. Encompass Capital Advisors LLC acquired a new stake in shares of National Energy Services Reunited in the fourth quarter valued at $79,108,000. SCF Partners Inc. purchased a new stake in National Energy Services Reunited during the 4th quarter worth about $71,605,000. Fort Baker Capital Management LP acquired a new stake in National Energy Services Reunited in the 4th quarter valued at about $27,670,000. Balyasny Asset Management L.P. purchased a new position in shares of National Energy Services Reunited in the 4th quarter valued at about $20,330,000. Finally, GeoSphere Capital Management LLC acquired a new position in shares of National Energy Services Reunited during the fourth quarter worth about $10,443,000. 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.