Borr Drilling (NYSE:BORR) Upgraded by Clarkson Capital to Buy

Clarkson Capital upgraded shares of Borr Drilling (NYSE:BORRGet Rating) from a neutral rating to a buy rating in a research note issued to investors on Tuesday morning, The Fly reports.

Separately, DNB Markets began coverage on Borr Drilling in a research note on Monday, September 12th. They set a buy rating for the company.

Borr Drilling Stock Down 3.0 %

Shares of NYSE:BORR opened at $3.88 on Tuesday. 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 has a 1 year low of $1.32 and a 1 year high of $6.96. The stock has a market capitalization of $591.68 million, a P/E ratio of -1.92 and a beta of 3.62. The stock has a 50-day simple moving average of $3.75 and a 200-day simple moving average of $4.25.

Borr Drilling (NYSE:BORRGet Rating) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.27) earnings per share (EPS) for the quarter. The firm 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 Trading of Borr Drilling

Institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new stake in shares of Borr Drilling during the second quarter worth $26,000. Optiver Holding B.V. bought a new stake in shares of Borr Drilling in the second quarter valued at about $44,000. Mirabella Financial Services LLP bought a new stake in shares of Borr Drilling in the fourth quarter valued at about $57,000. Price T Rowe Associates Inc. MD bought a new stake in Borr Drilling during the second quarter worth about $59,000. Finally, Principal Financial Group Inc. bought a new stake in Borr Drilling during the second quarter worth about $62,000.

Borr Drilling Company Profile

(Get Rating)

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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