National Energy Services Reunited (NASDAQ:NESR) Sets New 52-Week High – Should You Buy?

National Energy Services Reunited (NASDAQ:NESR)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $14.50 and last traded at $14.28, with a volume of 280220 shares trading hands. The stock had previously closed at $13.97.

Wall Street Analyst Weigh In

NESR has been the topic of several recent analyst reports. Maxim Group began coverage on shares of National Energy Services Reunited in a research note on Tuesday, September 9th. They set a “buy” rating and a $16.00 price objective on the stock. National Bankshares set a $16.00 price target on National Energy Services Reunited in a research note on Tuesday, September 9th. Zacks Research raised National Energy Services Reunited from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Piper Sandler upped their target price on National Energy Services Reunited from $15.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.86.

National Energy Services Reunited Trading Down 0.8%

The business’s 50-day moving average price is $11.51 and its 200 day moving average price is $8.46. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 18.97 and a beta of 0.38. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.10 and a quick ratio of 0.93.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $295.32 million for the quarter, compared to analyst estimates of $292.46 million. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.24%. On average, equities analysts forecast that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On National Energy Services Reunited

Several hedge funds and other institutional investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. boosted its stake in shares of National Energy Services Reunited by 21.2% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 12,000 shares of the company’s stock valued at $125,000 after buying an additional 2,100 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in National Energy Services Reunited in the third quarter valued at $34,000. Legal & General Group Plc bought a new position in National Energy Services Reunited during the 2nd quarter valued at $34,000. Ameritas Investment Partners Inc. acquired a new position in National Energy Services Reunited during the 2nd quarter worth $37,000. Finally, Acadian Asset Management LLC acquired a new position in National Energy Services Reunited during the 1st quarter worth $48,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

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.