Benchmark Initiates Coverage on National Energy Services Reunited (NASDAQ:NESR)

Equities researchers at Benchmark initiated coverage on shares of National Energy Services Reunited (NASDAQ:NESR) in a note issued to investors on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $15.00 price target on the stock. Benchmark’s price target points to a potential upside of 58.73% from the stock’s current price.

A number of other research firms have also commented on NESR. BTIG Research started 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. JPMorgan Chase & Co. assumed coverage on National Energy Services Reunited in a research note on Friday, December 6th. They issued an “overweight” rating and a $13.00 target price for the company.

National Energy Services Reunited Stock Up 0.7 %

Shares of NESR stock opened at $9.45 on Tuesday. The firm’s 50 day moving average is $8.75 and its 200 day moving average is $9.02. National Energy Services Reunited has a 12 month low of $6.51 and a 12 month high of $10.30. 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

A hedge fund recently bought a new stake in National Energy Services Reunited stock. HITE Hedge Asset Management LLC acquired a new stake in shares of National Energy Services Reunited Corp. (NASDAQ:NESR) in the 3rd quarter, according to the company in its most recent Form 13F filing 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 0.74% of National Energy Services Reunited as of its most recent filing with the Securities and Exchange Commission (SEC). 15.55% of the stock is currently owned by hedge funds and other institutional investors.

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.