National Energy Services Reunited (NASDAQ:NESR) Coverage Initiated at Benchmark

Benchmark began coverage on shares of National Energy Services Reunited (NASDAQ:NESR) in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $15.00 price target on the stock. Benchmark’s target price would suggest a potential upside of 58.73% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on National Energy Services Reunited in a report on Friday, December 6th. They issued an “overweight” rating and a $13.00 price objective for the company. BTIG Research started coverage on National Energy Services Reunited in a research note on Friday, October 25th. They issued a “buy” rating and a $15.00 target price for the company.

National Energy Services Reunited Stock Up 0.7 %

NASDAQ NESR opened at $9.45 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 0.33. National Energy Services Reunited has a 52-week low of $6.51 and a 52-week high of $10.30. The company has a fifty day moving average of $8.75 and a 200-day moving average of $9.02.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in National Energy Services Reunited stock. HITE Hedge Asset Management LLC purchased a new position in shares of National Energy Services Reunited Corp. (NASDAQ:NESR) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 703,162 shares of the company’s stock, valued at approximately $6,645,000. HITE Hedge Asset Management LLC owned about 0.74% of National Energy Services Reunited at the end of the most recent reporting period. 15.55% of the stock is currently owned by 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.