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

National Energy Services Reunited (NASDAQ:NESR) was the target of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 2,166,585 shares, a drop of 13.8% from the February 12th total of 2,514,871 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average daily trading volume, of 2,055,938 shares, the short-interest ratio is currently 1.1 days. Based on an average daily trading volume, of 2,055,938 shares, the short-interest ratio is currently 1.1 days. Currently, 2.2% of the shares of the company are sold short.

Analyst Ratings Changes

A number of analysts have recently commented on NESR shares. Barclays upped their target price on National Energy Services Reunited to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Bank of America started coverage on National Energy Services Reunited in a report on Friday, January 9th. They issued a “buy” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Monday, December 29th. Finally, Maxim Group set a $30.00 price objective on shares of National Energy Services Reunited in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, National Energy Services Reunited has an average rating of “Buy” and a consensus target price of $26.00.

National Energy Services Reunited Price Performance

Shares of National Energy Services Reunited stock opened at $20.52 on Thursday. The firm has a market cap of $2.07 billion, a PE ratio of 38.72, a P/E/G ratio of 0.57 and a beta of 0.18. National Energy Services Reunited has a twelve month low of $5.20 and a twelve month high of $26.85. 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 business has a 50-day moving average price of $21.03 and a 200 day moving average price of $15.54.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.25 by $0.07. The company had revenue of $398.26 million for 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 quarterly revenue was up 15.9% compared to the same quarter last year. Sell-side analysts predict that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of National Energy Services Reunited

A number of hedge funds and other institutional investors have recently made changes to their positions in NESR. Citadel Advisors LLC acquired a new position in shares of National Energy Services Reunited in the 3rd quarter worth approximately $22,722,000. Dodge & Cox raised its position in National Energy Services Reunited by 201.6% in the second quarter. Dodge & Cox now owns 2,136,794 shares of the company’s stock valued at $12,864,000 after purchasing an additional 1,428,200 shares during the period. Boston Partners raised its position in National Energy Services Reunited by 155.6% in the fourth quarter. Boston Partners now owns 1,953,328 shares of the company’s stock valued at $30,594,000 after purchasing an additional 1,189,035 shares during the period. Millennium Management LLC lifted its stake in National Energy Services Reunited by 1,482.3% during the fourth quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock worth $19,381,000 after purchasing an additional 1,159,372 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of National Energy Services Reunited by 2,227.2% in the second quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock valued at $4,908,000 after buying an additional 780,180 shares in the last quarter. Institutional investors and hedge funds own 15.55% of the company’s stock.

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.