National Energy Services Reunited (NASDAQ:NESR) Sees Strong Trading Volume – What’s Next?

National Energy Services Reunited Corp. (NASDAQ:NESR) shares saw strong trading volume on Wednesday . 115,059 shares changed hands during mid-day trading, a decline of 8% from the previous session’s volume of 125,043 shares.The stock last traded at $8.94 and had previously closed at $8.73.

Analyst Upgrades and Downgrades

Several brokerages have commented on NESR. JPMorgan Chase & Co. assumed coverage on shares of National Energy Services Reunited in a research note on Friday, December 6th. They issued an “overweight” rating and a $13.00 price target on the stock. BTIG Research initiated coverage on National Energy Services Reunited in a report on Friday, October 25th. They issued a “buy” rating and a $15.00 price target for the company.

National Energy Services Reunited Stock Performance

The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average price of $8.70 and a 200-day moving average price of $9.01.

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 acquired a new stake in National Energy Services Reunited Corp. (NASDAQ:NESR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing. 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.