Alert: Negative Investment/Fundamental Signals (10/9/24)-Nabors Industries Ltd (NYSE: NBR)

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Recent extremely meaningful negative changes in investment behavior have impacted Nabors Industries Ltd (NYSE: NBR): the stock’s recent price decline challenged its longer term uptrend, and negative upside/downside volume developed.

Nabors Industries Ltd (NYSE: NBR) has recently experienced notable negative changes in fundamentals: 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 Power Rating of 21 and a poor Appreciation Score of 19, triggering the Lowest Value Trend Rating.

Recent Price Action

Nabors Industries Ltd (NYSE: NBR) stock closed at $74.13 on 10/9/24 after a decline of -2.8%. However, unusually low trading volume at 66% of normal accompanied the decline. The stock has risen 7.7% during the last week but has been weak relative to the market over the last nine months.

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