Nabors Industries Ltd. (NBR): Price Target and June Short Interest Disclosure

Nabors Industries Ltd. (NBR) : The consensus price target for Nabors Industries Ltd. (NBR) is $12.48 for the short term with a standard deviation of $2.77. The most optimist securities analyst among the 15 who monitor the stock believes that the stock can reach $19, however, the pessimist price target for the company is $7.

Nabors Industries Ltd. (NBR) reported a drop of 4% or 470,653 shares in its short interest. The short figure came in at 4.1% of the total floats. The average daily volume of 7,733,603 shares suggests that the days to cover 11,155,894 short positions, as on June 30,2016, will be 1. On June 15,2016, the short interest was 11,626,547 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity Analysts at the Credit Suisse downgrades the rating on Nabors Industries Ltd. (NYSE:NBR). The brokerage firm has issued a Neutral rating on the shares. The shares were previously rated Outperform. The Analysts at the ratings agency lowers the price target from $10 per share to $9 per share. The rating by the firm was issued on June 1, 2016.


Nabors Industries Ltd. (NYSE:NBR): On Thursdays trading session , Opening price of the stock was $9.89 with an intraday high of $10.01. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $9.64. However, the stock managed to close at $9.66, a loss of 0.72% for the day. On the previous day, the stock had closed at $9.73. The total traded volume of the day was 5,429,498 shares.

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company provides of offshore platform work over and drilling rigs. Its business is conducted through two business lines: Drilling & Rig Services and Completion & Production Services. It provides drilling technology and equipment and well-site services, including engineering, transportation and disposal, construction, maintenance, well logging, directional drilling, rig instrumentation, data collection and other support services. It manufactures and leases or sells top drives and other rig equipment. Its Drilling & Rig Services business line consists of four operating segments: U.S., Canada, International and Rig Services. Its Completion & Production Services business line consists of its operations involved in the completion, life-of-well maintenance and plugging and abandonment of a well and consists of two operating segments: Completion Services and Production Services.

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