Nabors Industries Ltd (NYSE:NBR) shares, rose in value on Friday, November 22, with the stock price up by 2.48% to the previous day’s close as strong demand from buyers drove the stock to $77.30.
Actively observing the price movement in the last trading, the stock closed the session at $75.43, falling within a range of $75.4 and $78.89. The value of beta (5-year monthly) was 2.097. Referring to stock’s 52-week performance, its high was $105.96, and the low was $59.67. On the whole, NBR has fluctuated by 5.96% over the past month.
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With the market capitalization of Nabors Industries Ltd currently standing at about $648.29 million, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 2.95B, with a low estimate of 733M and a high estimate of 756M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 742.78M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that NBR’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium-term indicators have put the stock in the category of 50% Sell while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the price of NBR currently trading nearly 1.27% and 4.91% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 53.24, while the 7-day volatility ratio is showing 4.94% which for the 30-day chart, stands at 5.39%. Furthermore, Nabors Industries Ltd (NBR)’s beta value is 2.07, and its average true range (ATR) is 4.47.
A comparison of Nabors Industries Ltd (NBR) with its peers suggests the former has fared considerably weaker in the market. NBR showed an intraday change of 2.48% in last session, and over the past year, it shrunk by -16.49%%.
Data on historical trading for Nabors Industries Ltd (NYSE:NBR) indicates that the trading volumes over the past 10 days have averaged 0.37 and over the past 3 months, they’ve averaged 367.99K. According to company’s latest data on outstanding shares, there are 9.39 million shares outstanding.
Nearly 10.65% of Nabors Industries Ltd’s shares belong to company insiders and institutional investors own 77.87% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.68 million shares as on 2024-10-31, resulting in a short ratio of 4.43. According to the data, the short interest in Nabors Industries Ltd (NBR) stood at 2231.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 1.63 million. The stock has fallen by -5.30% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NBR stock heading into the next quarter.
