National Energy Services Reunited (NASDAQ:NESR) Stock Price Down 8.5% – Time to Sell?

National Energy Services Reunited (NASDAQ:NESR) shares were down 8.5% during trading on Thursday. The stock traded as low as $20.21 and last traded at $19.84. Approximately 312,663 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 2,128,526 shares. The stock had previously closed at $21.69.

Analysts Set New Price Targets

A number of analysts recently commented on NESR shares. Weiss Ratings lowered National Energy Services Reunited from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 14th. Barclays dropped their price target on National Energy Services Reunited from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, October 15th. BTIG Research increased their price target on National Energy Services Reunited from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Zacks Research lowered National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 1st. Finally, UBS Group reduced their price target on shares of National Energy Services Reunited from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, September 29th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, National Energy Services Reunited presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.38.

National Energy Services Reunited Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02. The business has a 50 day simple moving average of $29.21 and a 200-day simple moving average of $27.34. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 0.23 and a beta of 0.48.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The company had revenue of $520.75 million for the quarter, compared to analyst estimates of $448.54 million. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%. The business’s quarterly revenue was up 59.1% compared to the same quarter last year. Equities research analysts expect that National Energy Services Reunited will post 1.65 earnings per share for the current year.

Insider Buying and Selling at National Energy Services Reunited

In other National Energy Services Reunited news, Director Mejia Antonio J. Campo sold 63,324 shares of National Energy Services Reunited stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $35.45, for a total transaction of $2,244,835.80. Following the transaction, the director directly owned 696,398 shares of the company’s stock, valued at $24,687,309.10. The trade was a 8.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stefan Angeli sold 13,570 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total transaction of $476,578.40. Following the completion of the sale, the chief financial officer owned 549,763 shares of the company’s stock, valued at approximately $19,307,676.56. The trade was a 2.41% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 176,894 shares of company stock worth $6,221,414. Corporate insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On National Energy Services Reunited

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC increased its position in shares of National Energy Services Reunited by 351.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,137 shares of the company’s stock valued at $29,000 after purchasing an additional 885 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of National Energy Services Reunited during the 2nd quarter worth $45,000. Allworth Financial LP raised its stake in shares of National Energy Services Reunited by 51.0% during the 2nd quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock worth $57,000 after purchasing an additional 649 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of National Energy Services Reunited by 848.6% in the 3rd quarter. Sterling Capital Management LLC now owns 2,049 shares of the company’s stock worth $52,000 after buying an additional 1,833 shares during the last quarter. Finally, USA Financial Formulas boosted its holdings in shares of National Energy Services Reunited by 63.0% in the 1st quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock worth $48,000 after buying an additional 871 shares during the last quarter. Hedge funds and other institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. (NESR) is an oilfield services company that provides equipment, technology and technical services to exploration and production companies. Its operations support the drilling, completion, production and maintenance of oil and natural gas wells.

NESR’s services are organized primarily around well services and drilling and evaluation. Offerings have included hydraulic fracturing and stimulation, cementing, coiled tubing, well testing, completion services, artificial lift, drilling fluids, directional drilling, wireline, logging and well-inspection services.