Piper Sandler Forecasts Strong Price Appreciation for National Energy Services Reunited (NASDAQ:NESR) Stock

National Energy Services Reunited (NASDAQ:NESR) had its price objective raised by research analysts at Piper Sandler from $15.00 to $19.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 32.77% from the company’s previous close.

NESR has been the subject of a number of other reports. National Bankshares set a $16.00 price target on shares of National Energy Services Reunited in a research note on Tuesday, September 9th. JPMorgan Chase & Co. lifted their target price on shares of National Energy Services Reunited from $10.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. Maxim Group assumed coverage on National Energy Services Reunited in a research note on Tuesday, September 9th. They issued a “buy” rating and a $16.00 price target on the stock. BTIG Research raised their price target on National Energy Services Reunited from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.86.

National Energy Services Reunited Stock Performance

National Energy Services Reunited stock traded up $0.39 on Tuesday, hitting $14.31. The company’s stock had a trading volume of 642,090 shares, compared to its average volume of 611,990. The company has a quick ratio of 0.93, a current ratio of 1.11 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average price of $11.34 and a 200-day moving average price of $8.37. National Energy Services Reunited has a one year low of $5.20 and a one year high of $14.50. The firm has a market cap of $1.38 billion, a P/E ratio of 19.60 and a beta of 0.38.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.32%. The firm had revenue of $295.32 million during the quarter, compared to analyst estimates of $292.46 million. On average, equities analysts anticipate that National Energy Services Reunited will post 1.03 earnings per share for the current year.

Institutional Investors Weigh In On National Energy Services Reunited

A number of hedge funds and other institutional investors have recently made changes to their positions in NESR. Victory Capital Management Inc. bought a new stake in National Energy Services Reunited in the 1st quarter valued at $235,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of National Energy Services Reunited in the 1st quarter valued at about $92,000. XTX Topco Ltd bought a new stake in shares of National Energy Services Reunited in the first quarter valued at about $115,000. Kazazian Asset Management LLC acquired a new position in shares of National Energy Services Reunited during the first quarter worth about $422,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of National Energy Services Reunited by 6.1% during the first quarter. Russell Investments Group Ltd. now owns 212,055 shares of the company’s stock worth $1,561,000 after buying an additional 12,216 shares in the last quarter. 15.55% of the stock is currently owned by institutional investors and hedge funds.

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.