Squarepoint Ops LLC Boosts Holdings in Borr Drilling Limited $BORR

Squarepoint Ops LLC raised its holdings in shares of Borr Drilling Limited (NYSE:BORR) by 129.8% in the second quarter, Holdings Channel reports. The institutional investor owned 1,397,369 shares of the company’s stock after acquiring an additional 789,214 shares during the period. Squarepoint Ops LLC’s holdings in Borr Drilling were worth $5,771,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BORR. Optiver Holding B.V. grew its holdings in Borr Drilling by 186.4% during the first quarter. Optiver Holding B.V. now owns 5,060 shares of the company’s stock valued at $29,000 after purchasing an additional 3,293 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of Borr Drilling by 2,435.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 8,467 shares of the company’s stock valued at $34,000 after acquiring an additional 8,133 shares during the period. Inspire Advisors LLC purchased a new stake in Borr Drilling in the 4th quarter worth approximately $44,000. Cetera Investment Advisers purchased a new stake in Borr Drilling in the 1st quarter worth approximately $66,000. Finally, Quadrature Capital Ltd 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 institutional investors.

Insider Activity

In other news, Director Jeffrey Currie purchased 125,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $4.01 per share, with a total value of $501,250.00. Following the purchase, the director owned 479,423 shares in the company, valued at approximately $1,922,486.23. This trade represents a 35.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BORR shares. Zacks Research upgraded shares of Borr Drilling to a “hold” rating in a research report on Thursday, July 2nd. Wall Street Zen cut shares of Borr Drilling from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Capital One Financial set a $6.00 price objective on Borr Drilling and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. SEB Equity Research set a $3.55 target price on Borr Drilling in a research note on Monday, August 17th. Finally, Weiss Ratings cut Borr Drilling from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.27.

Borr Drilling Stock Down 2.4%

Shares of NYSE BORR opened at $4.26 on Friday. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 2.58. Borr Drilling Limited has a 12-month low of $2.44 and a 12-month high of $6.66. The firm’s 50-day moving average price is $4.29 and its 200-day moving average price is $5.00. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -5.47 and a beta of 1.03.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.58). The company had revenue of $232.30 million during the quarter, compared to the consensus estimate of $245.96 million. Borr Drilling had a negative return on equity of 5.95% and a negative net margin of 23.98%. On average, equities research analysts anticipate that Borr Drilling Limited will post -0.13 EPS for the current fiscal year.

Borr Drilling 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.