National Energy Services Reunited (NASDAQ:NESR) Sees Significant Increase in Short Interest
by Michael Walen · The Markets DailyNational Energy Services Reunited (NASDAQ:NESR – Get Free Report) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 4,098,045 shares, an increase of 89.1% from the February 26th total of 2,166,585 shares. Approximately 4.1% of the company’s stock are short sold. Based on an average daily volume of 2,878,064 shares, the short-interest ratio is presently 1.4 days.
National Energy Services Reunited Price Performance
Shares of NESR traded up $0.08 during trading hours on Friday, hitting $21.51. 2,217,984 shares of the company were exchanged, compared to its average volume of 2,628,901. National Energy Services Reunited has a fifty-two week low of $5.20 and a fifty-two week high of $26.85. The firm’s fifty day moving average is $21.53 and its 200 day moving average is $16.09. The company has a quick ratio of 0.89, a current ratio of 1.04 and a debt-to-equity ratio of 0.20. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 40.59, a P/E/G ratio of 0.59 and a beta of 0.18.
National Energy Services Reunited (NASDAQ:NESR – Get Free Report) last issued its earnings results on Wednesday, February 18th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.25 by $0.07. The firm had revenue of $398.26 million during 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 for the quarter was up 15.9% compared to the same quarter last year. On average, equities analysts anticipate that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the company. Maxim Group set a $30.00 target price on shares of National Energy Services Reunited in a research note on Monday, January 12th. Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. UBS Group lifted their target price on National Energy Services Reunited to $31.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Bank of America started coverage on shares of National Energy Services Reunited in a research note on Friday, January 9th. They issued a “buy” rating on the stock. Finally, Wall Street Zen upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $26.00.
Read Our Latest Stock Report on National Energy Services Reunited
Institutional Trading of National Energy Services Reunited
Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in National Energy Services Reunited by 373.8% in the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock worth $30,000 after acquiring an additional 1,499 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in National Energy Services Reunited in the 3rd quarter valued at $34,000. State of Wyoming bought a new stake in National Energy Services Reunited during the 4th quarter valued at $76,000. Clearstead Advisors LLC increased its stake in National Energy Services Reunited by 180.1% during the 4th quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock valued at $77,000 after purchasing an additional 3,171 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in National Energy Services Reunited during the second quarter worth $34,000. 15.55% of the stock is currently owned by institutional investors.
About National Energy Services Reunited
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.