National Energy Services Reunited (NASDAQ:NESR) Trading Up 1.6% – Should You Buy?

National Energy Services Reunited Corp. (NASDAQ:NESR)’s stock price rose 1.6% during trading on Monday . The company 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.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NESR. BTIG Research initiated coverage on National Energy Services Reunited in a research note on Friday, October 25th. They issued a “buy” rating and a $15.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of National Energy Services Reunited in a report on Friday, December 6th. They issued an “overweight” rating and a $13.00 target price on the stock.

National Energy Services Reunited Stock Performance

The business’s 50-day simple moving average is $8.82 and its 200-day simple moving average is $9.04. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33.

Institutional Investors Weigh In On National Energy Services Reunited

A hedge fund recently bought a new stake in National Energy Services Reunited stock. HITE Hedge Asset Management LLC purchased a new position in National Energy Services Reunited Corp. (NASDAQ:NESR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 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.

National Energy Services Reunited Company Profile

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.