National Energy Services Reunited (NASDAQ:NESR) Shares Down 4.4% – Should You Sell?

National Energy Services Reunited (NASDAQ:NESR)’s stock price fell 4.4% during trading on Monday . The company traded as low as $21.52 and last traded at $21.6430. 287,131 shares changed hands during trading, a decline of 85% from the average session volume of 1,869,159 shares. The stock had previously closed at $22.64.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Bank of America assumed coverage on National Energy Services Reunited in a report on Friday, January 9th. They issued a “buy” rating for the company. Maxim Group set a $30.00 price objective on National Energy Services Reunited in a research note on Monday, January 12th. Zacks Research raised shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. BTIG Research upped their target price on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Finally, UBS Group raised their price target on shares of National Energy Services Reunited to $31.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, National Energy Services Reunited presently has an average rating of “Buy” and a consensus target price of $26.00.

National Energy Services Reunited Trading Down 5.7%

The company has a market cap of $2.15 billion, a PE ratio of 40.31, a price-to-earnings-growth ratio of 0.62 and a beta of 0.29. The business has a 50 day simple moving average of $21.79 and a two-hundred day simple moving average of $16.58. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. The business had revenue of $398.26 million during the quarter. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, analysts forecast that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NESR. Mercer Global Advisors Inc. ADV lifted its holdings in shares of National Energy Services Reunited by 4.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company’s stock worth $174,000 after acquiring an additional 501 shares during the period. ProShare Advisors LLC grew its holdings in National Energy Services Reunited by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 11,148 shares of the company’s stock valued at $175,000 after purchasing an additional 719 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in National Energy Services Reunited by 4.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,419 shares of the company’s stock valued at $306,000 after purchasing an additional 772 shares during the period. Ieq Capital LLC increased its position in National Energy Services Reunited by 1.0% during the fourth quarter. Ieq Capital LLC now owns 85,337 shares of the company’s stock worth $1,336,000 after purchasing an additional 842 shares during the last quarter. Finally, CWM LLC raised its stake in National Energy Services Reunited by 2.9% during the fourth quarter. CWM LLC now owns 30,123 shares of the company’s stock worth $472,000 after purchasing an additional 845 shares during the period. Institutional investors and hedge funds own 15.55% of the company’s stock.

About National Energy Services Reunited

National Energy Services Reunited Corp (NASDAQ: NESR) is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company’s mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR’s service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.