Borr Drilling (NYSE:BORR) Lowered to Sell Rating by Wall Street Zen

Borr Drilling (NYSE:BORR) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Borr Drilling in a research report on Wednesday, January 21st. Citigroup lifted their price objective on Borr Drilling from $6.00 to $6.25 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, Borr Drilling has a consensus rating of “Hold” and a consensus target price of $4.33.

Borr Drilling Trading Up 1.9%

Borr Drilling stock opened at $6.04 on Friday. Borr Drilling has a one year low of $1.55 and a one year high of $6.25. The business’s fifty day moving average is $5.28 and its 200 day moving average is $4.04. The stock has a market capitalization of $1.90 billion, a PE ratio of 35.50 and a beta of 1.00. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.19 and a quick ratio of 1.63.

Borr Drilling (NYSE:BORR) last posted its earnings results on Wednesday, February 18th. The company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.03. Borr Drilling had a net margin of 4.41% and a return on equity of 4.14%. The business had revenue of $259.40 million for the quarter, compared to analysts’ expectations of $238.65 million.

Hedge Funds Weigh In On Borr Drilling

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd increased its position in Borr Drilling by 2,435.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 8,467 shares of the company’s stock worth $34,000 after buying an additional 8,133 shares in the last quarter. Oak Thistle LLC purchased a new stake in Borr Drilling in the 3rd quarter worth approximately $29,000. Inspire Advisors LLC bought a new stake in Borr Drilling during the 4th quarter worth approximately $44,000. Baader Bank Aktiengesellschaft bought a new stake in Borr Drilling during the 3rd quarter worth approximately $30,000. Finally, Regatta Capital Group LLC purchased a new position in Borr Drilling during the fourth quarter valued at approximately $47,000. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

Borr Drilling Company Profile

Borr Drilling is an international offshore drilling contractor providing premium jack-up drilling services to the oil and gas industry. Established in 2016 and incorporated in Bermuda with headquarters in Hamilton, the company is listed on the New York Stock Exchange under the ticker symbol BORR. Borr Drilling focuses exclusively on the ownership and operation of mobile offshore jack-up rigs, catering to exploration and production drilling projects in both mature and emerging hydrocarbon regions.

The company’s core business activities encompass the long-term contracting of high-specification jack-up rigs suitable for shallow-to-intermediate water depths.