Borr Drilling (NYSE:BORR) Trading 4.4% Higher

Borr Drilling Limited (NYSE:BORRGet Rating)’s stock price traded up 4.4% during mid-day trading on Friday . The stock traded as high as $5.14 and last traded at $5.00. 16,214 shares were traded during mid-day trading, a decline of 98% from the average session volume of 925,808 shares. The stock had previously closed at $4.79.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. DNB Markets assumed coverage on Borr Drilling in a research report on Monday, September 12th. They issued a “buy” rating for the company. Clarkson Capital upgraded Borr Drilling from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 20th. Finally, BTIG Research upgraded Borr Drilling from a “neutral” rating to a “buy” rating in a research report on Friday.

Borr Drilling Trading Up 10.4 %

The firm has a market cap of $806.67 million, a PE ratio of -2.54 and a beta of 3.37. The business has a 50-day moving average price of $4.72 and a two-hundred day moving average price of $4.19. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.32 and a quick ratio of 0.32.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BORR. JPMorgan Chase & Co. purchased a new position in shares of Borr Drilling in the first quarter valued at $66,000. Dimensional Fund Advisors LP acquired a new stake in shares of Borr Drilling during the first quarter valued at $552,000. Renaissance Technologies LLC boosted its stake in shares of Borr Drilling by 3,450.6% during the first 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. Williams Jones Wealth Management LLC. acquired a new stake in shares of Borr Drilling during the first quarter valued at $336,000. Finally, Invesco Ltd. boosted its stake in shares of Borr Drilling by 63.8% during the first quarter. Invesco Ltd. now owns 79,106 shares of the company’s stock valued at $265,000 after acquiring an additional 30,799 shares during the last quarter. Hedge funds and other institutional investors own 30.55% of the company’s stock.

Borr Drilling Company Profile

(Get Rating)

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.

Further Reading

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