Borr Drilling (NYSE:BORR) Now Covered by Analysts at DNB Markets

DNB Markets initiated coverage on shares of Borr Drilling (NYSE:BORRGet Rating) in a report issued on Monday morning, The Fly reports. The firm issued a buy rating on the stock.

Borr Drilling Stock Up 5.3 %

BORR opened at $4.40 on Monday. Borr Drilling has a fifty-two week low of $1.32 and a fifty-two week high of $6.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.12 and a quick ratio of 0.12. The firm’s fifty day moving average price is $3.71 and its two-hundred day moving average price is $4.19. The company has a market capitalization of $670.98 million, a P/E ratio of -2.18 and a beta of 3.62.

Borr Drilling (NYSE:BORRGet Rating) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.27) earnings per share for the quarter. Borr Drilling had a negative return on equity of 20.05% and a negative net margin of 89.65%. The business had revenue of $105.30 million for the quarter.

Institutional Investors Weigh In On Borr Drilling

Several institutional investors and hedge funds have recently made changes to their positions in BORR. Qube Research & Technologies Ltd acquired a new position in Borr Drilling during the 4th quarter worth about $153,000. Mirabella Financial Services LLP bought a new stake in Borr Drilling during the 4th quarter worth about $57,000. JPMorgan Chase & Co. bought a new stake in shares of Borr Drilling in the 1st quarter valued at about $66,000. Dimensional Fund Advisors LP bought a new stake in shares of Borr Drilling in the 1st quarter valued at about $552,000. Finally, Renaissance Technologies LLC increased its stake in shares of Borr Drilling by 3,450.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,059,611 shares of the company’s stock valued at $3,570,000 after acquiring an additional 1,029,768 shares during the last quarter.

About Borr Drilling

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Borr Drilling Limited operates as an offshore drilling contractor to the oil and gas industry worldwide. It owns, contracts, and operates jack-up rigs for operations in shallow-water areas, including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production.

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