Alert: Negative Investment/Fundamental Signals (9/26/24)-Nabors Industries Ltd (NYSE: NBR)

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Extremely important negative changes in investment behavior have recently occurred for Nabors Industries Ltd (NYSE: NBR): negative upside/downside volume developed, and the stock fell on very heavy volume.

Nabors Industries Ltd (NYSE: NBR). Significant negative changes in fundamentals have recently occurred: significant quarterly sales deceleration occurred, and significant quarterly earnings deceleration occurred.

In light of these highly negative signals we are reviewing our current Overall Rating of F. We would continue to view the shares with caution pending completion of this review in the next several days.

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Current PriceTarget Research Rating

NBR is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to be above the cost of capital.

Nabors Industries has a current Value Trend Rating of F (Lowest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. Nabors Industries has a poor Appreciation Score of 23 and a poor Power Rating of 23, triggering the Lowest Value Trend Rating.

Recent Price Action

Nabors Industries Ltd (NYSE: NBR) stock suffered a large decline of -7.1% on 9/26/24. The stock closed at $60.97. Moreover, trading volume in this decline was exceptionally high at 235% of normal. Relative to the market the stock has been weak over the last nine months and has declined -7.9% during the last week.

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