National Energy Services Reunited (NASDAQ:NESR) Trading Up 5.8% – Should You Buy?

National Energy Services Reunited Corp. (NASDAQ:NESR)’s stock price rose 5.8% during trading on Monday . The stock traded as high as $9.42 and last traded at $9.35. Approximately 118,802 shares changed hands during trading, a decline of 9% from the average daily volume of 130,467 shares. The stock had previously closed at $8.84.

Analyst Ratings Changes

Separately, BTIG Research began coverage on National Energy Services Reunited in a research report on Friday, October 25th. They set a “buy” rating and a $15.00 price objective on the stock.

National Energy Services Reunited Stock Performance

The stock’s 50-day moving average is $8.99 and its two-hundred day moving average is $9.20. 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) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.29 EPS for the quarter. The firm had revenue of $324.97 million for the quarter.

Institutional Investors Weigh In On National Energy Services Reunited

An institutional investor recently bought a new position in National Energy Services Reunited stock. HITE Hedge Asset Management LLC bought a new position in National Energy Services Reunited Corp. (NASDAQ:NESR) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 703,162 shares of the company’s stock, valued at approximately $6,645,000. HITE Hedge Asset Management LLC owned approximately 0.74% of National Energy Services Reunited at the end of the most recent reporting period. 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.