National Energy Services Reunited Corp (NASDAQ:NESR) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 1,695,800 shares, an increase of 14.6% from the July 31st total of 1,479,400 shares. Based on an average daily volume of 197,300 shares, the short-interest ratio is presently 8.6 days. Currently, 3.5% of the company’s stock are short sold.
A number of brokerages have recently commented on NESR. Evercore ISI restated a “buy” rating and issued a $17.00 price target on shares of National Energy Services Reunited in a report on Thursday, August 8th. Zacks Investment Research lowered National Energy Services Reunited from a “hold” rating to a “sell” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $14.38.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC bought a new stake in National Energy Services Reunited during the fourth quarter worth about $136,000. Deutsche Bank AG bought a new stake in National Energy Services Reunited during the fourth quarter worth about $34,000. Crown Advisors Management Inc. bought a new stake in National Energy Services Reunited during the first quarter worth about $219,000. Crystal Rock Capital Management raised its holdings in National Energy Services Reunited by 16.0% during the first quarter. Crystal Rock Capital Management now owns 438,830 shares of the company’s stock worth $4,586,000 after acquiring an additional 60,594 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in National Energy Services Reunited during the first quarter worth about $657,000. Institutional investors and hedge funds own 18.28% of the company’s stock.
Shares of National Energy Services Reunited stock remained flat at $$7.70 during trading on Friday. The stock had a trading volume of 186,146 shares, compared to its average volume of 135,857. The business’s 50 day simple moving average is $7.82 and its two-hundred day simple moving average is $8.95. National Energy Services Reunited has a 12 month low of $7.25 and a 12 month high of $14.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.36 and a quick ratio of 1.97.
National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. The company had revenue of $159.90 million for the quarter, compared to analyst estimates of $157.87 million. National Energy Services Reunited had a return on equity of 13.27% and a net margin of 10.70%. On average, equities analysts expect that National Energy Services Reunited will post 0.94 EPS for the current year.
About National Energy Services Reunited
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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