Short Interest in Nabors Industries Ltd. (NBR) Expands By 13.4%

Nabors Industries Ltd. (NYSE:NBR) was the target of a significant growth in short interest in December. As of December 14th, there was short interest totalling 57,831,834 shares, a growth of 13.4% from the November 30th total of 50,976,415 shares. Based on an average trading volume of 26,347,113 shares, the short-interest ratio is currently 2.2 days. Currently, 17.8% of the company’s stock are short sold.

Several research firms recently issued reports on NBR. ValuEngine lowered Nabors Industries from a “hold” rating to a “sell” rating in a report on Friday, December 21st. Raymond James lowered Nabors Industries from a “strong-buy” rating to a “market perform” rating and set a $2.75 target price on the stock. in a report on Thursday, December 13th. JPMorgan Chase & Co. lowered Nabors Industries from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 11th. Piper Jaffray Companies set a $7.00 target price on Nabors Industries and gave the stock a “hold” rating in a report on Thursday, November 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $8.00 target price on shares of Nabors Industries in a report on Tuesday, November 6th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. Nabors Industries currently has a consensus rating of “Hold” and an average price target of $8.52.

NYSE:NBR opened at $2.01 on Monday. The company h....

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