Nabors Industries Ltd. (NBR) Short Interest Update
Nabors Industries Ltd. (NYSE:NBR) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 47,602,079 shares, a decline of 8.3% from the January 12th total of 51,917,459 shares. Based on an average daily volume of 9,433,814 shares, the short-interest ratio is presently 5.0 days. Approximately 16.6% of the shares of the company are sold short.
Several research firms have weighed in on NBR. Stephens began coverage on shares of Nabors Industries in a research note on Tuesday, January 9th. They set an “equal weight” rating and a $8.00 target price for the company. Bank of America lowered their price target on shares of Nabors Industries from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. Zacks Investment Research upgraded shares of Nabors Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. ValuEngine lowered shares of Nabors Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Finally, Piper Jaffray Companies restated a “hold” rating and set a $9.50 price target on shares of Nabors Industries in a research report on Friday, October 27th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $10.89.
Shares of Nabors Industries (NBR) opened at $6.59 on Wednesday. The firm has a market cap of $2,090.00, a PE ratio of -2.46 and a beta of 1.58. Nabors Industries has a 1-year low of $5.32 and a 1-year high of $16.06. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.41 and a quick ratio of 1.27.
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Nabors Industries Company Profile
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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