National Energy Services Reunited (NASDAQ:NESR) Short Interest Update

National Energy Services Reunited (NASDAQ:NESR) saw a significant increase in short interest in 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 shares of the company are sold short. Based on an average daily volume of 2,878,064 shares, the short-interest ratio is presently 1.4 days.

Hedge Funds Weigh In On National Energy Services Reunited

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its position 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 buying an additional 1,499 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of National Energy Services Reunited during the 3rd quarter valued at about $34,000. Legal & General Group Plc purchased a new position in shares of National Energy Services Reunited during the 2nd quarter valued at about $34,000. Ameritas Investment Partners Inc. bought a new position in shares of National Energy Services Reunited during the 2nd quarter valued at approximately $37,000. Finally, Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited during the 1st quarter valued at approximately $48,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NESR shares. Bank of America initiated coverage on shares of National Energy Services Reunited in a research report on Friday, January 9th. They issued a “buy” rating for the company. Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a report on Monday, December 29th. Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Maxim Group set a $30.00 price objective on National Energy Services Reunited in a report on Monday, January 12th. Finally, UBS Group upped their price objective on National Energy Services Reunited to $31.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $26.00.

National Energy Services Reunited Stock Performance

NASDAQ NESR traded up $0.08 during trading hours on Friday, hitting $21.51. 2,217,984 shares of the company’s stock traded hands, compared to its average volume of 2,628,901. National Energy Services Reunited has a 52 week low of $5.20 and a 52 week high of $26.85. The firm has a market capitalization of $2.17 billion, a P/E ratio of 40.59, a P/E/G ratio of 0.59 and a beta of 0.18. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The business’s fifty day moving average price is $21.53 and its two-hundred day moving average price is $16.09.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.07. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The business had revenue of $398.26 million for the quarter. The company’s revenue was up 15.9% compared to the same quarter last year. Equities research analysts predict that National Energy Services Reunited will post 1.03 EPS for the current year.

National Energy Services Reunited Company Profile

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.