National Energy Services Reunited (NASDAQ:NESR) Stock Price Down 1.8% – Here’s What Happened

National Energy Services Reunited Corp. (NASDAQ:NESR) was down 1.8% on Tuesday . The stock traded as low as $8.62 and last traded at $8.63. Approximately 5,636 shares were traded during trading, a decline of 96% from the average daily volume of 129,453 shares. The stock had previously closed at $8.79.

Analyst Upgrades and Downgrades

NESR has been the topic of a number of research reports. BTIG Research began coverage on National Energy Services Reunited in a research report on Friday, October 25th. They set a “buy” rating and a $15.00 price objective on the stock. JPMorgan Chase & Co. started coverage on National Energy Services Reunited in a report on Friday, December 6th. They set an “overweight” rating and a $13.00 price target on the stock.

National Energy Services Reunited Trading Up 1.9 %

The business’s fifty day moving average price is $8.81 and its 200 day moving average price is $9.04. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.10.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in National Energy Services Reunited stock. HITE Hedge Asset Management LLC acquired a new position in National Energy Services Reunited Corp. (NASDAQ:NESR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 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 at the end of the most recent quarter. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

About National Energy Services Reunited

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.