Nabors Industries (NBR) Shares Down 5%

Nabors Industries Ltd. (NYSE:NBR)’s share price dropped 5% during mid-day trading on Tuesday . The company traded as low as $1.86 and last traded at $1.89. Approximately 10,561,464 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 21,990,416 shares. The stock had previously closed at $1.99.

NBR has been the topic of a number of recent research reports. ValuEngine cut shares of Nabors Industries from a “hold” rating to a “sell” rating in a research note on Friday. Raymond James lowered shares of 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. Guggenheim reiterated a “buy” rating and issued a $11.00 target price on shares of Nabors Industries in a report on Friday, October 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $8.00 target price on shares of Nabors Industries in a report on Tuesday, November 6th. Finally, Bank of America began coverage on shares of Nabors Industries in a report on Wednesday, October 17th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. Nabors Industries has an average rating of “Hold” and a consensus price target of $8.52.

The company has a current ratio of 2.05, a quick ratio of 1.82 and a debt-to-equity ratio of 1.26. The firm ....

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