National Energy Services Reunited (NASDAQ:NESR) Sets New 52-Week Low at $7.40

National Energy Services Reunited Corp (NASDAQ:NESR)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $7.40 and last traded at $7.40, with a volume of 1000 shares. The stock had previously closed at $7.91.

NESR has been the topic of a number of recent research reports. Evercore ISI reiterated a “buy” rating and set a $17.00 price target on shares of National Energy Services Reunited in a research note on Thursday, August 8th. Zacks Investment Research downgraded shares of National Energy Services Reunited from a “hold” rating to a “sell” rating in a research note on Friday. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. National Energy Services Reunited has an average rating of “Buy” and an average target price of $14.38.

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 1.37. The stock’s 50 day simple moving average is $8.22 and its two-hundred day simple moving average is $9.05.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.19. National Energy Services Reunited had a net margin of 10.70% and a return on equity of 14.92%. The firm had revenue of $159.90 million for the quarter, compared to the consensus estimate of $157.87 million. Equities analysts forecast that National Energy Services Reunited Corp will post 0.99 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in National Energy Services Reunited during the fourth quarter worth approximately $60,000. Geode Capital Management LLC acquired a new position in National Energy Services Reunited during the fourth quarter worth approximately $136,000. FMR LLC increased its position in National Energy Services Reunited by 22.0% during the fourth quarter. FMR LLC now owns 1,112,839 shares of the company’s stock worth $9,637,000 after purchasing an additional 200,922 shares during the last quarter. Deutsche Bank AG acquired a new position in National Energy Services Reunited during the fourth quarter worth approximately $34,000. Finally, Crown Advisors Management Inc. acquired a new position in National Energy Services Reunited during the first quarter worth approximately $219,000. Hedge funds and other institutional investors own 17.38% of the company’s stock.

National Energy Services Reunited Company Profile (NASDAQ:NESR)

National Energy Services Reunited Corp., through its subsidiaries, provides oilfield services to oil and gas companies in the Middle East, North Africa, and the Asia Pacific regions. It operates through Production Services, and Drilling and Evaluation Services segments. The Production Services segment offers coiled tubing services, such as nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; primary and remedial cementing services; stimulation and pumping services; nitrogen services; and filtration services, as well as frac tanks and pumping units.

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