National Energy Services Reunited (NASDAQ:NESR) Sees Unusually-High Trading Volume - What's Next?

National Energy Services Reunited Corp. (NASDAQ:NESR - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 1,880,766 shares traded hands 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

Several research firms have issued reports on NESR. Benchmark assumed coverage on shares of National Energy Services Reunited in a research report on Tuesday, January 21st. They set a "buy" rating and a $15.00 price target on the stock. Barclays upped their price target 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 Trading Down 12.0 %

The firm has a market capitalization of $596.45 million, a P/E ratio of 7.76 and a beta of 0.35. 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 firm has a 50 day moving average of $8.44 and a 200-day moving average of $8.76.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Iridian Asset Management LLC CT bought a new position in shares of National Energy Services Reunited during the fourth quarter valued at $1,378,000. Diametric Capital LP acquired a new position in National Energy Services Reunited during the 4th quarter worth about $408,000. Tejara Capital Ltd bought a new stake in shares of National Energy Services Reunited in the 4th quarter valued at about $3,600,000. R Squared Ltd acquired a new stake in shares of National Energy Services Reunited in the fourth quarter valued at about $41,000. Finally, ExodusPoint Capital Management LP bought a new position in shares of National Energy Services Reunited during the fourth quarter worth about $7,098,000. 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.