National Energy Services Reunited (NASDAQ:NESR) Shares Gap Down to $7.42

Shares of National Energy Services Reunited Corp. (NASDAQ:NESRGet Rating) gapped down before the market opened on Monday . The stock had previously closed at $7.42, but opened at $6.92. National Energy Services Reunited shares last traded at $6.75, with a volume of 11,894 shares traded.

A number of equities analysts have recently issued reports on NESR shares. National Bank of Canada reissued a “sector perform” rating and set a $11.00 target price (down from $13.50) on shares of National Energy Services Reunited in a research note on Monday. Zacks Investment Research raised National Energy Services Reunited from a “sell” rating to a “hold” rating in a research note on Thursday. National Bankshares dropped their price objective on National Energy Services Reunited from $17.50 to $13.50 and set an “outperform” rating for the company in a research note on Wednesday, March 16th. Finally, National Bank Financial downgraded National Energy Services Reunited from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $13.50 to $11.00 in a research note on Sunday. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, National Energy Services Reunited presently has a consensus rating of “Hold” and an average price target of $11.83.

The stock has a 50-day simple moving average of $8.84.

Several hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC lifted its stake in shares of National Energy Services Reunited by 0.7% during the fourth quarter. Lazard Asset Management LLC now owns 2,844,768 shares of the company’s stock worth $26,883,000 after purchasing an additional 19,575 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of National Energy Services Reunited by 23.8% during the fourth quarter. Russell Investments Group Ltd. now owns 2,412,252 shares of the company’s stock worth $22,793,000 after acquiring an additional 462,969 shares during the last quarter. Boston Partners increased its position in shares of National Energy Services Reunited by 5.6% during the third quarter. Boston Partners now owns 2,010,456 shares of the company’s stock worth $25,192,000 after acquiring an additional 107,317 shares during the last quarter. BlackRock Inc. increased its holdings in National Energy Services Reunited by 2.2% in the fourth quarter. BlackRock Inc. now owns 1,966,852 shares of the company’s stock valued at $18,586,000 after buying an additional 42,157 shares during the last quarter. Finally, FMR LLC increased its holdings in National Energy Services Reunited by 22.1% in the first quarter. FMR LLC now owns 1,358,969 shares of the company’s stock valued at $14,202,000 after buying an additional 246,130 shares during the last quarter. Institutional investors and hedge funds own 41.97% of the company’s stock.

National Energy Services Reunited Company Profile (NASDAQ:NESR)

National Energy Services Reunited Corp. provides oilfield services to oil and gas companies in the Middle East, North Africa, and the Asia Pacific regions. It operates through two segments, Production Services; and Drilling and Evaluation Services. The 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 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.

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