National Energy Services Reunited (NASDAQ:NESR) Shares Gap Down – Time to Sell?

Shares of National Energy Services Reunited Corp. (NASDAQ:NESR) gapped down prior to trading on Friday . The stock had previously closed at $8.85, but opened at $8.58. National Energy Services Reunited shares last traded at $8.51, with a volume of 17,378 shares traded.

Analysts Set New Price Targets

Separately, BTIG Research initiated coverage on National Energy Services Reunited in a research note on Friday, October 25th. They issued a “buy” rating and a $15.00 price objective on the stock.

National Energy Services Reunited Trading Down 3.4 %

The business has a fifty day simple moving average of $9.16 and a 200-day simple moving average of $9.29. The company has a current ratio of 1.07, a quick ratio of 0.89 and a debt-to-equity ratio of 0.35.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Thursday, August 29th. The company reported $0.29 earnings per share (EPS) for the quarter. The company had revenue of $324.97 million for the quarter.

Institutional Trading of National Energy Services Reunited

An institutional investor recently bought a new position in National Energy Services Reunited stock. HITE Hedge Asset Management LLC purchased a new position in National Energy Services Reunited Corp. (NASDAQ:NESR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 703,162 shares of the company’s stock, valued at approximately $6,645,000. HITE Hedge Asset Management LLC owned approximately 0.74% of National Energy Services Reunited as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company’s Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.