National Energy Services Reunited Corp. (NASDAQ:NESR) is one of the stocks that are taking the center stage today as the company shares are trading 2.66% or 0.21 points lower from last closing price of $7.9, reaching $7.69 at last check. So what’s going on with NESR shares anyway? The price has dropped in 5 of the last 5 days and is down -18.81% over the past week. It will be exciting to see whether the stock manages to continue decreasing or take a minor break for the next few days. The move came on solid volume too with far more shares changing hands than in a normal session. Trading activity as of this writing strengthened by 15,947 shares, and in total 174547 shares valued at $1.342 million were seen changing hands compared with 158600 shares valued at $1.253 million recorded at the previous session. You should take into consideration that a greater volume on lower prices causes the situation where nobody wants to continue with their long position and wants to exit from the NESR stock.
National Energy Services Reunited Corp. (NESR) shares have notched a 3-month decline of about -18.81%, but has still tumbled -8.78% year to date. By comparison, the stock sank -22.78% over the past 12 months, while it slipped -16.31% over the 1 month. The company’s market cap is around $667.47M, with its short interest ratio standing at 4.68%.
In the current trading session for NESR, the stock witnessed two major price actions, it rose to a high of $7.96 and was down as much as $7.55 at one point. The high recorded is very low when compared to their 52-week high which is $7.42. The 52-week high is now at -47.39 distance from current price. Their recent low of $14.38 represents a 1.95% recovery. This data is quite important for investors who look to benefit from the recent rise of the company’s stock. The price target currently for NESR is $18.25, this is above the recent high that the stock attained. Taking a look at the overall sentimental views of financial analysts, the trading pattern of this stock recently is very clear.
The stock of National Energy Services Reunited Corp. earned $0.57 per share in the trailing 12 months and has a P/E ratio of 13.49. You can compare it with that of similar companies in its industry to get a sense of whether the stock you’re looking to purchase is overvalued or undervalued. Its current price to earnings ratio is lower than the ones recorded by the industry which is 44.82 and lower compared to the sector’s average of 16.04. When the P/E ratio is low let’s say below 1.0, then the stock price is considered a good value. NESR also has P/S multiple of 1.16. This is smaller versus the 12 month P/S ratios of other companies in the same indutry. The peer average price to sales ratio is 3.02x.
NESR‘s last price was down -22.09% as compared to the average trading price of 50 days recorded at $9.87 while enlarging the period to 200 trading days, the average closing price was $9.93. At present, there are 84.49 million in the total number of common shares owned by the public and among those 41.15 million shares have been available to trade. The percentage of shares being held by the company management was 57.14% while institutions stake was 26.5%. The company has generated positive returns on equity over the last 12 months (6.1%). It managed to keep its gross profit margin at 26.9% over the past 12 months.
When assessing the full upside of the NESR stock, there is another set of technicals that should be looked into and considered. Its -16.17% decline from moving average of $9.17 has brought about a negative sentiment when calculated over the last 20 days. The market has allocated a beta of 0 to the stock. With the beta been less than one, this implies that the company shares are theoretically less volatile than the market, something that the traders definitely are keeping an eye on.
Most of the analysts surveyed by Thomson/First Call think quite highly of National Energy Services Reunited Corp. — 5 analysts rate the stock as a buy with another 0 rating it strong buy. There are 0 analysts who maintain a hold rating for the stock, with 0 giving it a sell rating. Analysts arrived at a 12-month price target of $15.75 on shares of National Energy Services Reunited Corp. (NASDAQ:NESR), which corresponds to 108.33% upside potential than its current market price of $7.69 and implies potential despite the recent drop in the price. However, their current target price has fallen from $15.75 a month ago and is down handily from the consensus target of $15.75 a quarter ago.
Let’s briefly check the hedge fund interest towards NESR stock. Marshall Wace LLP added position in the company after it grew 50% or 41,891 shares of its common stock. The hedge fund now owns 62,837 shares worth $483,217, SEC documents show. FMR LLC shored up assets in the stock as 1178637 shares have been purchased, increasing its stake by 15.3% to 1,358,969 shares which are currently valued at $10,450,472. In addition, Encompass Capital Advisors LLC recently reported that it now owns 2,652,842 shares making a total of $20,400,355 based on the recent price. This refelects a change of 1.1% in their ownership.