National Energy Services Reunited (NASDAQ:NESR) Hits New 52-Week High – Still a Buy?

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Maxim Group started coverage on National Energy Services Reunited in a report on Tuesday, September 9th. They issued a “buy” rating and a $16.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of National Energy Services Reunited from $10.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Piper Sandler boosted their price objective on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, BTIG Research raised their target price on shares of National Energy Services Reunited from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, National Energy Services Reunited presently has a consensus rating of “Moderate Buy” and an average price target of $16.86.

National Energy Services Reunited Price Performance

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

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 8.24%. The firm had revenue of $295.32 million for the quarter, compared to analyst estimates of $292.46 million. As a group, analysts forecast that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new stake in National Energy Services Reunited during the 3rd quarter worth about $34,000. Legal & General Group Plc bought a new stake in shares of National Energy Services Reunited in the 2nd quarter valued at approximately $34,000. Ameritas Investment Partners Inc. bought a new position in National Energy Services Reunited during the second quarter valued at approximately $37,000. Acadian Asset Management LLC acquired a new stake in National Energy Services Reunited in the first quarter valued at approximately $48,000. Finally, Osaic Holdings Inc. bought a new stake in National Energy Services Reunited in the second quarter worth approximately $73,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

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.