HSBC lowered shares of Borr Drilling (NASDAQ:BORR) from a buy rating to a hold rating in a research note issued to investors on Friday morning, The Fly reports.

Other research analysts have also issued reports about the company. Morgan Stanley lowered Borr Drilling from an overweight rating to an equal weight rating in a report on Wednesday, September 25th. Citigroup raised their price objective on Borr Drilling from $6.00 to $7.00 and gave the company a neutral rating in a report on Monday, September 23rd.

Shares of Borr Drilling stock opened at $6.20 on Friday. The business has a 50-day moving average price of $6.48. Borr Drilling has a one year low of $4.60 and a one year high of $16.15.

Several hedge funds and other institutional investors have recently made changes to their positions in BORR. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Borr Drilling during the third quarter worth about $35,000. Barclays PLC purchased a new position in Borr Drilling in the 3rd quarter valued at about $131,000. Millennium Management LLC acquired a new stake in Borr Drilling in the 3rd quarter worth about $428,000. Finally, Pelham Capital Ltd. acquired a new stake in Borr Drilling in the 3rd quarter worth about $23,174,000.

About Borr Drilling

Borr Drilling Limited operates as an offshore drilling contractor to the oil and gas industry worldwide. As of December 31, 2018, the company operated a fleet of 27 jack-up drilling rigs. It provides drilling services to the oil and gas exploration and production industry. The company was formerly known as Magni Drilling Limited.

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