Borr Drilling (NYSE:BORR) Trading 4.4% Higher

Borr Drilling Limited (NYSE:BORR – Get 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

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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.