National Energy Services Reunited (NASDAQ:NESR) Hits New 1-Year Low – What’s Next?

National Energy Services Reunited Corp. (NASDAQ:NESR)’s stock price reached a new 52-week low on Monday . The stock traded as low as $7.29 and last traded at $7.52, with a volume of 216137 shares trading hands. The stock had previously closed at $7.46.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NESR. Benchmark initiated coverage on shares of National Energy Services Reunited in a report on Tuesday, January 21st. They set a “buy” rating and a $15.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on shares of National Energy Services Reunited in a report on Friday, December 6th. They issued an “overweight” rating and a $13.00 price objective on the stock. Finally, Barclays boosted their price objective on shares of National Energy Services Reunited from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th.

National Energy Services Reunited Trading Up 0.4 %

The firm has a market cap of $736.85 million, a price-to-earnings ratio of 9.65 and a beta of 0.63. The business’s 50 day moving average price is $8.81 and its 200-day moving average price is $8.93. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.10.

National Energy Services Reunited (NASDAQ:NESR) last issued its 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 company had revenue of $343.68 million during the quarter, compared to analyst estimates of $339.84 million. Equities analysts expect that National Energy Services Reunited Corp. will post 1.03 EPS for the current year.

Institutional Investors Weigh In On National Energy Services Reunited

A number of institutional investors have recently modified their holdings of NESR. R Squared Ltd bought a new stake in shares of National Energy Services Reunited during the 4th quarter valued at about $41,000. Tower Research Capital LLC TRC bought a new stake in shares of National Energy Services Reunited during the 4th quarter valued at about $49,000. National Bank of Canada FI bought a new stake in shares of National Energy Services Reunited during the 4th quarter valued at about $74,000. TD Waterhouse Canada Inc. bought a new stake in shares of National Energy Services Reunited during the 4th quarter valued at about $89,000. Finally, Robotti Robert bought a new stake in shares of National Energy Services Reunited during the 4th quarter valued at about $90,000. 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.