National Energy Services Reunited Corp (NASDAQ:NESR) Short Interest Up 7.6% in October

National Energy Services Reunited Corp (NASDAQ:NESR) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,550,000 shares, a growth of 7.6% from the September 30th total of 1,440,000 shares. Approximately 3.6% of the company’s shares are sold short. Based on an average trading volume of 217,700 shares, the short-interest ratio is currently 7.1 days.

NESR has been the topic of several research reports. Evercore ISI restated a “buy” rating and issued a $17.00 price target on shares of National Energy Services Reunited in a report on Thursday, August 8th. Zacks Investment Research lowered shares of National Energy Services Reunited from a “hold” rating to a “sell” rating in a report on Friday, August 16th.

NASDAQ NESR traded up $0.14 during mid-day trading on Monday, hitting $7.75. The company’s stock had a trading volume of 213,100 shares, compared to its average volume of 167,375. National Energy Services Reunited has a 52-week low of $5.93 and a 52-week high of $10.80. The stock’s fifty day simple moving average is $6.80 and its two-hundred day simple moving average is $7.95. The company has a current ratio of 2.03, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). National Energy Services Reunited had a net margin of 9.25% and a return on equity of 7.98%. The business had revenue of $161.61 million during the quarter, compared to analysts’ expectations of $160.69 million. On average, sell-side analysts predict that National Energy Services Reunited will post 0.8 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC purchased a new position in National Energy Services Reunited in the second quarter valued at approximately $30,000. Tower Research Capital LLC TRC raised its holdings in National Energy Services Reunited by 45.6% in the third quarter. Tower Research Capital LLC TRC now owns 5,030 shares of the company’s stock valued at $34,000 after buying an additional 1,576 shares during the period. Strs Ohio purchased a new position in National Energy Services Reunited in the second quarter valued at approximately $54,000. Russell Investments Group Ltd. purchased a new position in National Energy Services Reunited in the third quarter valued at approximately $77,000. Finally, Tocqueville Asset Management L.P. purchased a new position in National Energy Services Reunited in the second quarter valued at approximately $131,000. Hedge funds and other institutional investors own 17.50% of the company’s stock.

About National Energy Services Reunited

National Energy Services Reunited Corp., through its subsidiaries, provides oilfield services to oil and gas companies in the Middle East, North Africa, and the Asia Pacific regions. It operates through Production Services, and Drilling and Evaluation Services segments. The Production Services segment offers coiled tubing services, such as nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; primary and remedial cementing services; stimulation and pumping services; nitrogen services; and filtration services, as well as frac tanks and pumping units.

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