Should You Buy Nabors Industries Ltd. (NBR) Stock on Wednesday?

Wednesday, August 5, 2020 12:27 PM | InvestorsObserver Analysts

Nabors Industries Ltd. (NBR) stock has risen 18.94% over the past week and gets a Bullish rating from InvestorsObserver's Sentiment Indicator.

Sentiment Score - ,bullish
Nabors Industries Ltd. has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on NBR!

What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company.

Recent trends are a good indator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive.

InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend.

Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With NBR Stock Today?

Nabors Industries Ltd. (NBR) stock is trading at $51.50 as of 12:26 PM on Wednesday, Aug 5, a rise of $3.95, or 8.31% from the previous closing price of $47.55. The stock has traded between $48.00 and $52.92 so far today. Volume today is low. So far 391,682 shares have traded compared to average volume of 873,659 shares.

To screen for more stocks like Nabors Industries Ltd. click here.

More About Nabors Industries Ltd.

Nabors is one of the world's largest land rig drilling contractors. The company has more than 500 land rigs, more than 600 land workover rigs, and numerous offshore rigs that drill for oil and natural gas globally. The company derives about 75% of its revenue from North America. In addition, Nabors provides well servicing, engineering, transportation, and other services for oil and gas producers.

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