National Energy Services Reunited (NASDAQ:NESR) Sets New 1-Year High – Here’s Why

National Energy Services Reunited (NASDAQ:NESR)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $21.29 and last traded at $21.2010, with a volume of 104397 shares traded. The stock had previously closed at $20.87.

Wall Street Analyst Weigh In

NESR has been the subject of several recent analyst reports. Bank of America began coverage on National Energy Services Reunited in a research note on Friday, January 9th. They set a “buy” rating for the company. Maxim Group set a $30.00 price target on National Energy Services Reunited in a report on Monday, January 12th. Piper Sandler lifted their price target 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, November 18th. BTIG Research boosted their price objective on shares of National Energy Services Reunited from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, Zacks Research upgraded shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $21.00.

National Energy Services Reunited Price Performance

The stock’s 50-day moving average price is $17.18 and its 200 day moving average price is $12.84. The company has a quick ratio of 0.92, a current ratio of 1.10 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 0.61 and a beta of 0.25.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Thursday, November 13th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. National Energy Services Reunited had a return on equity of 8.24% and a net margin of 5.53%.The business had revenue of $295.32 million during the quarter, compared to analyst estimates of $292.46 million. Equities research analysts predict that National Energy Services Reunited will post 1.03 earnings per share for the current year.

Hedge Funds Weigh In On National Energy Services Reunited

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue acquired a new position in National Energy Services Reunited during the third quarter worth $34,000. State of Wyoming acquired a new position in National Energy Services Reunited in the fourth quarter valued at about $76,000. Clearstead Advisors LLC grew its stake in National Energy Services Reunited by 180.1% during the fourth quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock worth $77,000 after buying an additional 3,171 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of National Energy Services Reunited in the 2nd quarter worth approximately $34,000. Finally, Ameritas Investment Partners Inc. bought a new stake in National Energy Services Reunited during the 2nd quarter worth approximately $37,000. Institutional investors 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.