National Energy Services Reunited (NASDAQ:NESR) Stock Rating Lowered by Wall Street Zen

National Energy Services Reunited (NASDAQ:NESR) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Separately, Piper Sandler assumed coverage on National Energy Services Reunited in a research report on Monday, July 14th. They set an “overweight” rating and a $11.00 target price on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.20.

National Energy Services Reunited Trading Up 1.0%

Shares of NESR stock opened at $6.96 on Friday. National Energy Services Reunited has a 1-year low of $5.20 and a 1-year high of $9.89. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average of $6.36 and a 200-day moving average of $6.95. The stock has a market cap of $671.29 million, a price-to-earnings ratio of 8.59 and a beta of 0.39.

National Energy Services Reunited (NASDAQ:NESR) last announced its earnings results on Tuesday, June 3rd. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). National Energy Services Reunited had a net margin of 5.87% and a return on equity of 10.96%. The business had revenue of $303.10 million for the quarter, compared to the consensus estimate of $304.68 million. On average, equities research analysts forecast that National Energy Services Reunited will post 1.03 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new position in National Energy Services Reunited in the fourth quarter worth approximately $49,000. Legal & General Group Plc bought a new position in National Energy Services Reunited in the second quarter worth approximately $34,000. Ameritas Investment Partners Inc. bought a new position in National Energy Services Reunited in the second quarter worth approximately $37,000. Acadian Asset Management LLC bought a new position in National Energy Services Reunited in the first quarter worth approximately $48,000. Finally, TD Waterhouse Canada Inc. bought a new position in National Energy Services Reunited in the fourth quarter worth approximately $89,000. 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.