Borr Drilling (NYSE:BORR) Shares Up 9.2% – Still a Buy?

Borr Drilling Limited (NYSE:BORR)’s stock price rose 9.2% during trading on Tuesday . The stock traded as high as $4.43 and last traded at $4.4340. Approximately 7,333,671 shares were traded during mid-day trading, an increase of 38% from the average daily volume of 5,316,696 shares. The stock had previously closed at $4.06.

Wall Street Analyst Weigh In

BORR has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Borr Drilling in a report on Wednesday, October 8th. SEB Equity Research set a $2.40 target price on shares of Borr Drilling in a report on Monday, September 1st. Citigroup reissued a “neutral” rating and issued a $3.75 price objective (up previously from $3.25) on shares of Borr Drilling in a research note on Friday, November 14th. Finally, Wall Street Zen upgraded Borr Drilling from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $3.08.

Borr Drilling Stock Up 9.2%

The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.70. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 16.39 and a beta of 1.12. The stock’s 50-day moving average is $3.08 and its 200-day moving average is $2.59.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The business had revenue of $277.10 million for the quarter, compared to analysts’ expectations of $261.44 million. Borr Drilling had a return on equity of 7.02% and a net margin of 7.06%.

Institutional Investors Weigh In On Borr Drilling

A number of large investors have recently modified their holdings of the stock. Sona Asset Management US LLC purchased a new stake in Borr Drilling in the third quarter worth $17,180,000. DNB Asset Management AS raised its stake in shares of Borr Drilling by 22,394.8% in the third quarter. DNB Asset Management AS now owns 3,875,175 shares of the company’s stock worth $10,424,000 after purchasing an additional 3,857,948 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Borr Drilling by 1,025.5% during the first quarter. Millennium Management LLC now owns 3,810,556 shares of the company’s stock valued at $8,345,000 after purchasing an additional 3,471,979 shares in the last quarter. Masters Capital Management LLC lifted its holdings in shares of Borr Drilling by 42.9% during the third quarter. Masters Capital Management LLC now owns 3,000,000 shares of the company’s stock valued at $8,070,000 after purchasing an additional 900,000 shares in the last quarter. Finally, HRT Financial LP lifted its stake in Borr Drilling by 252.2% during the 2nd quarter. HRT Financial LP now owns 887,379 shares of the company’s stock valued at $1,623,000 after acquiring an additional 635,435 shares during the period. Institutional investors own 83.12% of the company’s stock.

Borr Drilling Company Profile

Borr Drilling Limited operates as an offshore shallow-water drilling contractor to the oil and gas industry worldwide. The company owns, contracts, and operates jack-up drilling 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.