Short Interest in National Energy Services Reunited (NASDAQ:NESR) Decreases By 13.8%

National Energy Services Reunited (NASDAQ:NESR) was the target of a large decrease in short interest in February. As of February 27th, there was short interest totaling 2,166,585 shares, a decrease of 13.8% from the February 12th total of 2,514,871 shares. Based on an average daily volume of 2,055,938 shares, the days-to-cover ratio is presently 1.1 days. Currently, 2.2% of the shares of the stock are sold short. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 2,055,938 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. BTIG Research boosted their price target on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Wall Street Zen upgraded shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Piper Sandler raised their price objective on National Energy Services Reunited from $15.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of National Energy Services Reunited in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, National Energy Services Reunited has an average rating of “Buy” and a consensus target price of $26.00.

National Energy Services Reunited Trading Down 1.3%

NASDAQ NESR traded down $0.27 on Wednesday, hitting $20.49. The company’s stock had a trading volume of 282,239 shares, compared to its average volume of 1,792,749. National Energy Services Reunited has a 52-week low of $5.20 and a 52-week high of $26.85. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The company’s 50-day simple moving average is $20.94 and its 200 day simple moving average is $15.51. The firm has a market cap of $2.06 billion, a P/E ratio of 38.66, a PEG ratio of 0.56 and a beta of 0.18.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Tuesday, February 17th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.07. The firm had revenue of $398.26 million for the quarter. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.National Energy Services Reunited’s revenue was up 15.9% compared to the same quarter last year. Research analysts predict that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On National Energy Services Reunited

Several institutional investors and hedge funds have recently modified their holdings of NESR. Citadel Advisors LLC bought a new stake in shares of National Energy Services Reunited during the 3rd quarter valued at about $22,722,000. Dodge & Cox raised its stake in National Energy Services Reunited by 201.6% in the second quarter. Dodge & Cox now owns 2,136,794 shares of the company’s stock worth $12,864,000 after buying an additional 1,428,200 shares in the last quarter. Boston Partners lifted its holdings in National Energy Services Reunited by 155.6% in the fourth quarter. Boston Partners now owns 1,953,328 shares of the company’s stock worth $30,594,000 after buying an additional 1,189,035 shares during the period. Millennium Management LLC lifted its holdings in National Energy Services Reunited by 1,482.3% in the fourth quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock worth $19,381,000 after buying an additional 1,159,372 shares during the period. Finally, Geode Capital Management LLC boosted its position in National Energy Services Reunited by 2,227.2% during the 2nd quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock valued at $4,908,000 after acquiring an additional 780,180 shares in the last quarter. 15.55% of the stock is owned by hedge funds and other institutional investors.

National Energy Services Reunited Company Profile

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.