National Energy Services Reunited Corp (NASDAQ:NESR) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 1,695,800 shares, an increase of 14.6% from the July 31st total of 1,479,400 shares. Based on an average trading volume of 197,300 shares, the short-interest ratio is presently 8.6 days. Approximately 3.5% of the company’s stock are sold short.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in National Energy Services Reunited by 3.3% in the second quarter. Vanguard Group Inc. now owns 1,706,215 shares of the company’s stock valued at $14,844,000 after buying an additional 53,831 shares in the last quarter. FMR LLC grew its holdings in shares of National Energy Services Reunited by 22.1% during the first quarter. FMR LLC now owns 1,358,969 shares of the company’s stock worth $14,202,000 after purchasing an additional 246,130 shares during the last quarter. BlackRock Inc. grew its holdings in shares of National Energy Services Reunited by 15,624.8% during the second quarter. BlackRock Inc. now owns 1,083,750 shares of the company’s stock worth $9,429,000 after purchasing an additional 1,076,858 shares during the last quarter. Crystal Rock Capital Management grew its holdings in shares of National Energy Services Reunited by 4.6% during the second quarter. Crystal Rock Capital Management now owns 458,830 shares of the company’s stock worth $3,992,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of National Energy Services Reunited during the second quarter worth about $3,981,000. Institutional investors own 18.28% of the company’s stock.
NESR has been the topic of a number of analyst reports. Zacks Investment Research cut National Energy Services Reunited from a “hold” rating to a “sell” rating in a research note on Friday, August 16th. Evercore ISI restated a “buy” rating and issued a $17.00 price target on shares of National Energy Services Reunited in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $14.38.
National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.19. National Energy Services Reunited had a return on equity of 13.27% and a net margin of 10.70%. The company had revenue of $159.90 million for the quarter, compared to analysts’ expectations of $157.87 million. On average, sell-side analysts expect that National Energy Services Reunited will post 0.94 EPS for the current fiscal year.
About National Energy Services Reunited
National Energy Services Reunited Corp., through its subsidiaries, provides oilfield services to oil and gas companies in the Middle East, North Africa, and the Asia Pacific regions. It operates through Production Services, and Drilling and Evaluation Services segments. The Production Services segment offers coiled tubing services, such as nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; primary and remedial cementing services; stimulation and pumping services; nitrogen services; and filtration services, as well as frac tanks and pumping units.
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