National Energy Services Reunited (NASDAQ:NESR) Stock Price Up 1.6% – Here’s Why

Shares of National Energy Services Reunited Corp. (NASDAQ:NESR) were up 1.6% during mid-day trading on Monday . The stock traded as high as $8.87 and last traded at $8.79. Approximately 102,162 shares were traded during trading, a decline of 21% from the average daily volume of 129,971 shares. The stock had previously closed at $8.65.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. BTIG Research initiated coverage on National Energy Services Reunited in a report on Friday, October 25th. They issued a “buy” rating and a $15.00 target price for the company. JPMorgan Chase & Co. started coverage on National Energy Services Reunited in a research report on Friday, December 6th. They set an “overweight” rating and a $13.00 price target on the stock.

National Energy Services Reunited Price Performance

The business’s fifty day moving average price is $8.83 and its 200 day moving average price is $9.04. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 0.33.

Institutional Trading of 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 stake in National Energy Services Reunited Corp. (NASDAQ:NESR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 703,162 shares of the company’s stock, valued at approximately $6,645,000. HITE Hedge Asset Management LLC owned 0.74% of National Energy Services Reunited at the end of the most recent quarter. 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.