National Energy Services Reunited (NASDAQ:NESR) Shares Gap Down – Time to Sell?

National Energy Services Reunited (NASDAQ:NESR)’s share price gapped down prior to trading on Tuesday. The stock had previously closed at $29.81, but opened at $28.62. National Energy Services Reunited shares last traded at $27.2160, with a volume of 568,161 shares traded.

Analyst Ratings Changes

A number of analysts recently issued reports on NESR shares. UBS Group set a $46.00 price objective on National Energy Services Reunited in a research note on Tuesday. Piper Sandler lifted their target price on National Energy Services Reunited from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings raised shares of National Energy Services Reunited from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 11th. BTIG Research boosted their price objective on shares of National Energy Services Reunited from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Citigroup reiterated a “buy” rating on shares of National Energy Services Reunited in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $33.71.

National Energy Services Reunited Stock Performance

The company has a 50 day simple moving average of $32.08 and a 200-day simple moving average of $27.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.86. The stock has a market cap of $2.65 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 0.29 and a beta of 0.39.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.35 by $0.09. The firm had revenue of $520.75 million for the quarter, compared to analyst estimates of $448.54 million. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%.National Energy Services Reunited’s revenue for the quarter was up 59.1% compared to the same quarter last year. On average, equities analysts expect that National Energy Services Reunited will post 1.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other National Energy Services Reunited news, CFO Stefan Angeli sold 13,570 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $35.12, for a total transaction of $476,578.40. Following the transaction, the chief financial officer directly owned 549,763 shares in the company, valued at $19,307,676.56. This trade represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sherif Foda sold 100,000 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the transaction, the chief executive officer owned 3,084,643 shares in the company, valued at $107,962,505. The trade was a 3.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 176,894 shares of company stock valued at $6,221,414 over the last quarter. 9.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On National Energy Services Reunited

Large investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new stake in National Energy Services Reunited in the second quarter worth $45,000. USA Financial Formulas boosted its position in National Energy Services Reunited by 63.0% during the first quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock valued at $48,000 after buying an additional 871 shares during the period. Allworth Financial LP grew its stake in shares of National Energy Services Reunited by 51.0% during the second quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock valued at $57,000 after buying an additional 649 shares during the last quarter. Clearstead Advisors LLC grew its stake in shares of National Energy Services Reunited by 180.1% during the fourth quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock valued at $77,000 after buying an additional 3,171 shares during the last quarter. Finally, Globeflex Capital L P purchased a new position in shares of National Energy Services Reunited in the first quarter worth about $151,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

About National Energy Services Reunited

National Energy Services Reunited Corp. is an oilfield services company that provides equipment, technologies and technical support to energy producers and drilling contractors. Its activities are primarily focused on the Middle East, North Africa and South Asia.

The company operates through two broad business areas: drilling and evaluation, and well services. Its offerings include drilling services, wireline and logging, well testing, cementing, coiled tubing, hydraulic fracturing, stimulation, artificial lift, completion services and production enhancement.