Nabors Industries Ltd. (NBR) Sees Significant Growth in Short Interest
Nabors Industries Ltd. (NYSE:NBR) saw a significant increase in short interest in January. As of January 12th, there was short interest totalling 51,917,459 shares, an increase of 11.6% from the December 29th total of 46,536,266 shares. Based on an average daily volume of 14,580,905 shares, the days-to-cover ratio is currently 3.6 days. Currently, 18.1% of the company’s stock are short sold.
A number of research firms have weighed in on NBR. Zacks Investment Research cut shares of Nabors Industries from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Seaport Global Securities reissued a “buy” rating and set a $13.00 price objective on shares of Nabors Industries in a report on Thursday, January 18th. Cowen set a $9.00 price objective on shares of Nabors Industries and gave the stock a “buy” rating in a report on Thursday, January 11th. UBS Group cut their price objective on shares of Nabors Industries from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Finally, Deutsche Bank began coverage on shares of Nabors Industries in a report on Tuesday, October 10th. They set a “hold” rating and a $9.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. Nabors Industries has an average rating of “Hold” and an average price target of $10.89.
Nabors Industries (NYSE NBR) opened at $8.30 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.27 and a debt-to-equity ratio of 1.35. The stock has a market cap of $2,640.00, a P/E ratio of -3.10 and a beta of 1.59. Nabors Industries has a 1 year low of $5.32 and a 1 year high of $16.83.
About Nabors Industries
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
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