National Energy Services Reunited (NASDAQ:NESR) Trading 6.6% Higher - Time to Buy?

National Energy Services Reunited Corp. (NASDAQ:NESR - Get Free Report)'s share price traded up 6.6% on Wednesday . The company traded as high as $8.49 and last traded at $8.10. 11,330 shares traded hands during trading, a decline of 94% from the average session volume of 175,803 shares. The stock had previously closed at $7.60.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. assumed coverage on National Energy Services Reunited in a report on Friday, December 6th. They set an "overweight" rating and a $13.00 price target for the company. Barclays increased their price target on National Energy Services Reunited from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Benchmark began 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 objective on the stock.

National Energy Services Reunited Trading Up 1.6 %

The stock's 50-day moving average price is $8.85 and its 200-day moving average price is $8.97. 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 released its quarterly earnings data on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.30. The company had revenue of $343.68 million for the quarter, compared to the consensus estimate of $339.84 million. As a group, 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 large investors have recently added to or reduced their stakes in the business. Encompass Capital Advisors LLC bought a new position in National Energy Services Reunited in the 4th quarter valued at about $79,108,000. SCF Partners Inc. bought a new position in shares of National Energy Services Reunited during the 4th quarter worth approximately $71,605,000. Fort Baker Capital Management LP bought a new position in shares of National Energy Services Reunited during the 4th quarter worth approximately $27,670,000. Balyasny Asset Management L.P. purchased a new stake in shares of National Energy Services Reunited during the 4th quarter worth approximately $20,330,000. Finally, GeoSphere Capital Management LLC purchased a new stake in shares of National Energy Services Reunited during the 4th quarter worth approximately $10,443,000. 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.