Nabors Rises On Unusually High Volume (NBR)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Nabors Industries (NYSE: NBR) is trading at unusually high volume Wednesday with 10.1 million shares changing hands. It is currently at 2.3 times its average daily volume and trading up 79 cents (+5%) at $16.62 as of 2:48 p.m. ET.

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Nabors has a market cap of $4.55 billion and is part of the basic materials sector and energy industry. Shares are up 8.4% year to date as of the close of trading on Tuesday.

Nabors Industries Ltd., together with its subsidiaries, operates as a land drilling contractor worldwide. The company has a P/E ratio of 21.8, above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Nabors as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and disappointing return on equity. You can view the full Nabors Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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