National Energy Services Reunited Corp. (NASDAQ:NESR – Get Rating) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,450,000 shares, a growth of 12.4% from the November 30th total of 1,290,000 shares. Based on an average daily trading volume, of 264,800 shares, the short-interest ratio is presently 5.5 days. Approximately 1.9% of the company's shares are sold short.
National Energy Services Reunited Price Performance
NESR opened at $6.68 on Wednesday. National Energy Services Reunited has a 52-week low of $5.64 and a 52-week high of $10.92. The stock's 50 day moving average price is $6.65 and its 200-day moving average price is $6.65.
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Hedge Funds Weigh In On National Energy Services Reunited
Several hedge funds have recently made changes to their positions in NESR. Prelude Capital Management LLC boosted its position in shares of National Energy Services Reunited by 95.1% during the second quarter. Prelude Capital Management LLC now owns 129,457 shares of the company's stock valued at $878,000 after purchasing an additional 63,110 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in shares of National Energy Services Reunited by 1.3% during the first quarter. Rice Hall James & Associates LLC now owns 340,058 shares of the company's stock valued at $2,856,000 after purchasing an additional 4,500 shares in the last quarter. HITE Hedge Asset Management LLC boosted its position in shares of National Energy Services Reunited by 155.3% during the first quarter. HITE Hedge Asset Management LLC now owns 541,846 shares of the company's stock valued at $4,552,000 after purchasing an additional 329,571 shares in the last quarter. Encompass Capital Advisors LLC boosted its position in shares of National Energy Services Reunited by 4.0% during the second quarter. Encompass Capital Advisors LLC now owns 3,547,155 shares of the company's stock valued at $24,050,000 after purchasing an additional 135,560 shares in the last quarter. Finally, SailingStone Capital Partners LLC bought a new stake in shares of National Energy Services Reunited during the second quarter valued at approximately $511,000. 38.11% of the stock is owned by hedge funds and other institutional investors.
National Energy Services Reunited Company Profile
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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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