Diametric Capital LP Buys Shares of 45,589 National Energy Services Reunited Corp. (NASDAQ:NESR)

Diametric Capital LP purchased a new stake in shares of National Energy Services Reunited Corp. (NASDAQ:NESR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 45,589 shares of the company’s stock, valued at approximately $408,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NESR. HITE Hedge Asset Management LLC bought a new stake in National Energy Services Reunited during the third quarter valued at approximately $6,645,000. R Squared Ltd purchased a new position in shares of National Energy Services Reunited during the 4th quarter worth $41,000. Iridian Asset Management LLC CT bought a new stake in shares of National Energy Services Reunited during the 4th quarter valued at $1,378,000. Tejara Capital Ltd purchased a new stake in shares of National Energy Services Reunited in the 4th quarter worth $3,600,000. Finally, Sei Investments Co. bought a new position in National Energy Services Reunited in the 4th quarter worth $328,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on NESR. JPMorgan Chase & Co. started coverage on National Energy Services Reunited in a research report on Friday, December 6th. They issued an “overweight” rating and a $13.00 price target for the company. Benchmark began coverage on shares of National Energy Services Reunited in a report on Tuesday, January 21st. They issued a “buy” rating and a $15.00 target price for the company. Finally, Barclays lifted their price target on shares of National Energy Services Reunited from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, March 13th.

National Energy Services Reunited Stock Down 3.2 %

Shares of NESR opened at $7.36 on Tuesday. 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 Corp. has a 12-month low of $7.21 and a 12-month high of $10.30. The business’s 50 day moving average is $8.62 and its 200 day moving average is $8.82. The company has a market capitalization of $702.49 million, a PE ratio of 9.20 and a beta of 0.63.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $343.68 million for the quarter, compared to analysts’ expectations of $339.84 million. Research analysts expect that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current fiscal year.

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.