Borr Drilling (NYSE:BORR) Shares Gap Up to $6.40

Borr Drilling Limited (NYSE:BORR – Get Rating)’s share price gapped up prior to trading on Friday . The stock had previously closed at $6.40, but opened at $6.54. Borr Drilling shares last traded at $6.45, with a volume of 612,083 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. BTIG Research raised their target price on Borr Drilling from $7.00 to $8.00 in a research report on Wednesday, January 25th. Evercore ISI raised their target price on Borr Drilling from $8.00 to $10.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 14th.

Borr Drilling Stock Up 2.3 %

The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average of $6.36 and a 200-day moving average of $5.05.

Borr Drilling (NYSE:BORR – Get Rating) last released its quarterly earnings data on Wednesday, February 15th. The company reported ($0.09) earnings per share (EPS) for the quarter. The firm had revenue of $148.60 million for the quarter. Borr Drilling had a negative net margin of 65.98% and a negative return on equity of 19.32%.

Institutional Trading of Borr Drilling

A number of institutional investors have recently bought and sold shares of the company. Natixis acquired a new stake in Borr Drilling during the fourth quarter valued at $225,000. Alliancebernstein L.P. raised its holdings in Borr Drilling by 38.9% during the fourth quarter. Alliancebernstein L.P. now owns 207,606 shares of the company’s stock valued at $1,032,000 after buying an additional 58,100 shares in the last quarter. Tejara Capital Ltd bought a new position in Borr Drilling during the fourth quarter valued at about $5,164,000. Squarepoint Ops LLC bought a new position in Borr Drilling during the fourth quarter valued at about $141,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Borr Drilling by 14.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 35,159 shares of the company’s stock valued at $175,000 after buying an additional 4,431 shares in the last quarter. Institutional investors and hedge funds own 30.55% of the company’s stock.

Borr Drilling Company Profile

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Borr Drilling Ltd. engages in the provision of offshore drilling services to the oil and gas industry. It operates through Dayrate; and Integrated Well Services (IWS) segments. The Dayrate segment consists of rig charters and ancillary services. The IWS segment provides integrated well services through Opex and Akal.