National Energy Services Reunited (NASDAQ:NESR) Shares Gap Down – What’s Next?

National Energy Services Reunited Corp. (NASDAQ:NESR) shares gapped down before the market opened on Friday . The stock had previously closed at $8.85, but opened at $8.58. National Energy Services Reunited shares last traded at $8.51, with a volume of 17,378 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, BTIG Research started coverage on shares of National Energy Services Reunited in a report on Friday, October 25th. They issued a “buy” rating and a $15.00 price target on the stock.

National Energy Services Reunited Stock Down 1.9 %

The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.89 and a current ratio of 1.07. The business has a 50 day moving average price of $9.19 and a two-hundred day moving average price of $9.30.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.29 earnings per share for the quarter. The firm had revenue of $324.97 million for the quarter.

Institutional Trading of National Energy Services Reunited

An institutional investor recently bought a new position in National Energy Services Reunited stock. HITE Hedge Asset Management LLC purchased a new stake in shares of National Energy Services Reunited Corp. (NASDAQ:NESR) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 703,162 shares of the company’s stock, valued at approximately $6,645,000. HITE Hedge Asset Management LLC owned about 0.74% of National Energy Services Reunited as of its most recent SEC filing. 15.55% of the stock is owned by institutional investors.

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.