National Energy Services Reunited (NASDAQ:NESR) Sees Unusually-High Trading Volume – Here’s What Happened

National Energy Services Reunited Corp. (NASDAQ:NESRGet Free Report) saw strong trading volume on Wednesday . 115,059 shares traded hands during mid-day trading, a decline of 8% from the previous session’s volume of 125,043 shares.The stock last traded at $8.94 and had previously closed at $8.73.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of National Energy Services Reunited in a report on Friday, December 6th. They set an “overweight” rating and a $13.00 target price for the company. BTIG Research started coverage on National Energy Services Reunited in a research note on Friday, October 25th. They issued a “buy” rating and a $15.00 target price on the stock.

Get Our Latest Analysis on National Energy Services Reunited

National Energy Services Reunited Price Performance

The firm’s fifty day simple moving average is $8.70 and its 200-day simple moving average is $9.01. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 0.33.

Hedge Funds Weigh In On National Energy Services Reunited

A hedge fund recently bought a new stake in National Energy Services Reunited stock. HITE Hedge Asset Management LLC purchased a new position in National Energy Services Reunited Corp. (NASDAQ:NESRFree Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period. 15.55% of the stock is owned by institutional investors and hedge funds.

About National Energy Services Reunited

(Get Free Report)

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.

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