Nabors Industries Ltd. June 15th Short Interest Update

Nabors Industries Ltd. (NYSE:NBR) has seen a rise of 1,040,310 shares or 9.8% in the short interest. The remaining shorts are 4.3% of the total floated shares. The net short interest, as on June 15,2016, stood at 11,626,547 shares and the stocks days to cover will be 1 by factoring in the average per day volume of 7,852,521 shares. On May 31,2016, 10,586,237 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Nabors Industries Ltd. (NYSE:NBR): The stock opened at $10.14 on Friday but the bulls could not build on the opening and the stock topped out at $10.46 for the day. The stock traded down to $10.06 during the day, due to lack of any buying support eventually closed down at $10.06 with a loss of -6.77% for the day. The stock had closed at $10.79 on the previous day. The total traded volume was 11,089,106 shares.

The company shares have dropped -30.67% from its 1 Year high price. On Jun 30, 2015, the shares registered one year high at $14.76 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $9.33 and the 200 Day Moving Average price is recorded at $8.45.

Nabors Industries Ltd. (NYSE:NBR) has tumbled 3.45% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 10.92% in the last four weeks. The stocks have underperformed the S&P 500 by 1.85% during the past week but Nabors Industries Ltd. (NYSE:NBR) it has outperformed the index in 4 weeks by 14.27%.

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company provides of offshore platform work over and drilling rigs. Its business is conducted through two business lines: Drilling & Rig Services and Completion & Production Services. It provides drilling technology and equipment and well-site services, including engineering, transportation and disposal, construction, maintenance, well logging, directional drilling, rig instrumentation, data collection and other support services. It manufactures and leases or sells top drives and other rig equipment. Its Drilling & Rig Services business line consists of four operating segments: U.S., Canada, International and Rig Services. Its Completion & Production Services business line consists of its operations involved in the completion, life-of-well maintenance and plugging and abandonment of a well and consists of two operating segments: Completion Services and Production Services.

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