National Energy Services Reunited (NASDAQ:NESR) Shares Up 7.1% – What’s Next?

National Energy Services Reunited (NASDAQ:NESR)’s stock price shot up 7.1% on Monday . The company traded as high as $20.64 and last traded at $20.4950. 623,722 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 1,761,038 shares. The stock had previously closed at $19.14.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Barclays lifted their target price on National Energy Services Reunited to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Zacks Research raised shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Thursday. UBS Group increased their price target on shares of National Energy Services Reunited to $31.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. BTIG Research raised their price target on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Finally, Bank of America began coverage on shares of National Energy Services Reunited in a research report on Friday, January 9th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, National Energy Services Reunited presently has a consensus rating of “Buy” and a consensus price target of $26.00.

National Energy Services Reunited Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.04. The firm’s 50-day moving average is $20.77 and its 200 day moving average is $15.34. The stock has a market cap of $2.06 billion, a PE ratio of 38.54, a P/E/G ratio of 0.52 and a beta of 0.17.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Tuesday, February 17th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.The business had revenue of $398.26 million during the quarter. National Energy Services Reunited’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, research analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Trading of National Energy Services Reunited

A number of large investors have recently made changes to their positions in NESR. Millennium Management LLC boosted its position in National Energy Services Reunited by 38.2% during the first quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock worth $3,990,000 after acquiring an additional 149,796 shares during the last quarter. Jane Street Group LLC acquired a new position in National Energy Services Reunited in the first quarter valued at $1,425,000. Acadian Asset Management LLC purchased a new position in National Energy Services Reunited during the first quarter worth about $48,000. Los Angeles Capital Management LLC acquired a new stake in National Energy Services Reunited in the 2nd quarter worth about $350,000. Finally, ProShare Advisors LLC purchased a new stake in National Energy Services Reunited in the 2nd quarter valued at about $75,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp (NASDAQ: NESR) is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company’s mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR’s service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.