Borr Drilling (NYSE:BORR) Trading Up 7.5% – Should You Buy?

Borr Drilling Limited (NYSE:BORR)’s stock price rose 7.5% during mid-day trading on Monday . The stock traded as high as $4.12 and last traded at $4.1480. Approximately 3,038,530 shares traded hands during trading, a decline of 57% from the average daily volume of 6,995,550 shares. The stock had previously closed at $3.86.

Wall Street Analysts Forecast Growth

BORR has been the subject of several recent analyst reports. Zacks Research raised Borr Drilling to a “hold” rating in a report on Thursday, July 2nd. Capital One Financial set a $6.00 price target on shares of Borr Drilling and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Fearnley Fonds raised shares of Borr Drilling from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Weiss Ratings restated a “sell (d+)” rating on shares of Borr Drilling in a research report on Wednesday, June 24th. Finally, Wall Street Zen downgraded shares of Borr Drilling from a “sell” rating to a “strong sell” rating in a report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.88.

Borr Drilling Price Performance

The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $1.35 billion, a P/E ratio of 28.63 and a beta of 1.02. The firm has a 50-day moving average price of $4.31 and a 200 day moving average price of $5.12.

Borr Drilling (NYSE:BORR) last released its earnings results on Tuesday, August 11th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.58). The firm had revenue of $232.30 million during the quarter, compared to the consensus estimate of $245.96 million. Borr Drilling had a return on equity of 2.88% and a net margin of 3.13%. On average, analysts expect that Borr Drilling Limited will post -0.13 EPS for the current year.

Insider Activity

In other Borr Drilling news, Director Thiago Mordehachvili sold 8,000,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $4.70, for a total value of $37,600,000.00. Following the sale, the director owned 38,199,677 shares of the company’s stock, valued at $179,538,481.90. This trade represents a 17.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Optiver Holding B.V. raised its holdings in Borr Drilling by 186.4% in the first quarter. Optiver Holding B.V. now owns 5,060 shares of the company’s stock worth $29,000 after purchasing an additional 3,293 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Borr Drilling by 2,435.0% in the 4th 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 during the period. Inspire Advisors LLC purchased a new stake in shares of Borr Drilling in the 4th quarter worth about $44,000. Cetera Investment Advisers purchased a new stake in shares of Borr Drilling in the 1st quarter worth about $66,000. Finally, Quadrature Capital Ltd bought a new position in shares of Borr Drilling in the 4th quarter worth about $47,000. 83.12% of the stock is currently owned by 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.