Nisa Investment Advisors LLC Buys New Shares in Borr Drilling Limited (NYSE:BORR)

Nisa Investment Advisors LLC bought a new stake in Borr Drilling Limited (NYSE:BORRGet Rating) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,610 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its holdings in Borr Drilling by 3,450.6% in the first quarter. Renaissance Technologies LLC now owns 1,059,611 shares of the company’s stock valued at $3,570,000 after purchasing an additional 1,029,768 shares during the period. Goldman Sachs Group Inc. raised its stake in Borr Drilling by 403.6% in the first quarter. Goldman Sachs Group Inc. now owns 419,846 shares of the company’s stock valued at $1,407,000 after buying an additional 336,474 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Borr Drilling in the first quarter valued at $552,000. Qube Research & Technologies Ltd raised its stake in Borr Drilling by 44.7% in the first quarter. Qube Research & Technologies Ltd now owns 107,516 shares of the company’s stock valued at $360,000 after buying an additional 33,225 shares in the last quarter. Finally, Williams Jones Wealth Management LLC. acquired a new stake in Borr Drilling in the first quarter valued at $336,000.

Borr Drilling Stock Up 1.9 %

BORR opened at $4.95 on Friday. The business’s 50-day simple moving average is $4.07 and its 200-day simple moving average is $4.33. 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 Limited has a one year low of $1.45 and a one year high of $6.96. The stock has a market capitalization of $754.85 million, a P/E ratio of -2.41 and a beta of 3.59.

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

Analyst Ratings Changes

A number of research firms have weighed in on BORR. Clarkson Capital upgraded Borr Drilling from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 20th. DNB Markets began coverage on Borr Drilling in a research note on Monday, September 12th. They issued a “buy” rating on the stock.

About Borr Drilling

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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.

Further Reading

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Institutional Ownership by Quarter for Borr Drilling (NYSE:BORR)

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