Borr Drilling (NYSE:BORR) Shares Gap Down to $3.91

Borr Drilling Limited (NYSE:BORRGet Rating) gapped down prior to trading on Monday . The stock had previously closed at $3.91, but opened at $3.62. Borr Drilling shares last traded at $3.78, with a volume of 9,522 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BORR. Clarkson Capital raised Borr Drilling from a “neutral” rating to a “buy” rating in a research note on Tuesday. DNB Markets initiated coverage on Borr Drilling in a report on Monday, September 12th. They set a “buy” rating on the stock.

Borr Drilling Trading Down 3.0 %

The business has a fifty day simple moving average of $3.75 and a 200 day simple moving average of $4.25. The stock has a market cap of $591.68 million, a price-to-earnings ratio of -1.92 and a beta of 3.62. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.12 and a current ratio of 0.12.

Borr Drilling (NYSE:BORRGet Rating) last announced its earnings results on Tuesday, August 9th. The company reported ($0.27) EPS for the quarter. The company had revenue of $105.30 million for the quarter. Borr Drilling had a negative net margin of 89.65% and a negative return on equity of 20.05%.

Institutional Investors Weigh In On Borr Drilling

Several hedge funds have recently made changes to their positions in BORR. Nisa Investment Advisors LLC acquired a new stake in shares of Borr Drilling during the second quarter worth $26,000. Optiver Holding B.V. acquired a new stake in shares of Borr Drilling during the second quarter worth $44,000. Mirabella Financial Services LLP acquired a new stake in shares of Borr Drilling during the fourth quarter worth $57,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Borr Drilling during the second quarter worth $59,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Borr Drilling during the second quarter worth $62,000.

Borr Drilling Company Profile

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

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