MMCAP International Inc. SPC Purchases 243,785 Shares of National Energy Services Reunited $NESR

MMCAP International Inc. SPC raised its position in National Energy Services Reunited (NASDAQ:NESR) by 40.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 845,142 shares of the company’s stock after buying an additional 243,785 shares during the quarter. MMCAP International Inc. SPC owned 0.88% of National Energy Services Reunited worth $8,671,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new stake in shares of National Energy Services Reunited in the third quarter valued at about $34,000. Legal & General Group Plc acquired a new stake in National Energy Services Reunited in the 2nd quarter worth about $34,000. Ameritas Investment Partners Inc. bought a new stake in National Energy Services Reunited in the 2nd quarter valued at about $37,000. Acadian Asset Management LLC bought a new stake in National Energy Services Reunited in the 1st quarter valued at about $48,000. Finally, Osaic Holdings Inc. acquired a new position in shares of National Energy Services Reunited during the 2nd quarter worth approximately $73,000. Institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Stock Performance

Shares of NASDAQ:NESR opened at $24.40 on Monday. National Energy Services Reunited has a 1 year low of $5.20 and a 1 year high of $25.21. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 46.04, a price-to-earnings-growth ratio of 0.67 and a beta of 0.25. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.10 and a quick ratio of 0.92. The company’s 50 day simple moving average is $18.43 and its 200 day simple moving average is $13.74.

National Energy Services Reunited (NASDAQ:NESR) last released its earnings results on Tuesday, February 17th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.07. National Energy Services Reunited had a return on equity of 8.57% and a net margin of 3.86%.The firm had revenue of $398.26 million during the quarter. The business’s revenue was up 15.9% compared to the same quarter last year. As a group, research analysts predict that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Analyst Ratings Changes

NESR has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a research report on Sunday, December 21st. National Bank Financial set a $21.00 price objective on National Energy Services Reunited in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Energy Services Reunited in a report on Monday, December 29th. Zacks Research downgraded National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, Bank of America began coverage on National Energy Services Reunited in a report on Friday, January 9th. They set a “buy” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, National Energy Services Reunited has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

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.