National Energy Services Reunited (NASDAQ:NESR) Shares Down 1.8% - What's Next?

National Energy Services Reunited Corp. (NASDAQ:NESR - Get Free Report)'s share price fell 1.8% during mid-day trading on Tuesday . The company traded as low as $8.62 and last traded at $8.63. 5,636 shares were traded during trading, a decline of 96% from the average session volume of 129,453 shares. The stock had previously closed at $8.79.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NESR. JPMorgan Chase & Co. initiated coverage on shares of National Energy Services Reunited in a research report on Friday, December 6th. They issued an "overweight" rating and a $13.00 price target on the stock. BTIG Research started coverage on National Energy Services Reunited in a report on Friday, October 25th. They issued a "buy" rating and a $15.00 target price on the stock.

National Energy Services Reunited Price Performance

The stock's 50-day moving average is $8.82 and its two-hundred day moving average is $9.04. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.10.

Institutional Investors Weigh In On National Energy Services Reunited

A hedge fund recently bought a new stake in National Energy Services Reunited stock. HITE Hedge Asset Management LLC purchased a new position in National Energy Services Reunited Corp. (NASDAQ:NESR - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period. 15.55% of the stock is owned by institutional investors.

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.