Borr Drilling Limited (NYSE:BORR – Get Rating)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $6.40, but opened at $6.54. Borr Drilling shares last traded at $6.45, with a volume of 612,083 shares.
Wall Street Analysts Forecast Growth
A number of research firms have commented on BORR. BTIG Research increased their target price on Borr Drilling from $7.00 to $8.00 in a report on Wednesday, January 25th. Evercore ISI increased their target price on Borr Drilling from $8.00 to $10.00 and gave the stock an “in-line” rating in a report on Tuesday, February 14th.
Borr Drilling Stock Performance
The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $6.36 and a two-hundred day moving average price of $5.05.
Institutional Trading of Borr Drilling
Institutional investors and hedge funds have recently made changes to their positions in the stock. Xponance Inc. acquired a new stake in Borr Drilling in the 3rd quarter valued at approximately $36,000. Prudential Financial Inc. acquired a new stake in Borr Drilling in the 3rd quarter valued at approximately $39,000. Tower Research Capital LLC TRC increased its position in Borr Drilling by 157.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 14,059 shares of the company’s stock valued at $47,000 after acquiring an additional 8,591 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in Borr Drilling in the 2nd quarter valued at approximately $59,000. Finally, Principal Financial Group Inc. acquired a new stake in Borr Drilling in the 2nd quarter valued at approximately $62,000. 30.55% of the stock is currently owned by institutional investors and hedge funds.
Borr Drilling Company Profile
Borr Drilling Ltd. engages in the provision of offshore drilling services to the oil and gas industry. It operates through Dayrate; and Integrated Well Services (IWS) segments. The Dayrate segment consists of rig charters and ancillary services. The IWS segment provides integrated well services through Opex and Akal.
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