Borr Drilling (NYSE:BORR) Trading Up 8.6% – Still a Buy?

Borr Drilling Limited (NYSE:BORR)’s stock price was up 8.6% during mid-day trading on Monday . The stock traded as high as $5.06 and last traded at $5.1050. Approximately 1,544,339 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 6,969,011 shares. The stock had previously closed at $4.70.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BORR. Citigroup upped their price target on shares of Borr Drilling from $6.00 to $6.25 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Weiss Ratings restated a “hold (c-)” rating on shares of Borr Drilling in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.33.

Borr Drilling Stock Up 5.6%

The company has a market capitalization of $1.57 billion, a PE ratio of 29.21 and a beta of 1.00. The company’s fifty day moving average is $5.16 and its 200-day moving average is $3.97. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.63 and a current ratio of 2.19.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.00 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.03. The business had revenue of $259.40 million during the quarter, compared to analyst estimates of $238.65 million. Borr Drilling had a net margin of 4.41% and a return on equity of 4.14%.

Institutional Investors Weigh In On Borr Drilling

A number of institutional investors have recently bought and sold shares of BORR. Oak Thistle LLC bought a new position in shares of Borr Drilling in the third quarter worth about $29,000. Baader Bank Aktiengesellschaft bought a new stake in Borr Drilling during the 3rd quarter valued at approximately $30,000. Jamison Private Wealth Management Inc. purchased a new position in Borr Drilling in the 3rd quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd lifted its holdings in Borr Drilling by 2,435.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 8,467 shares of the company’s stock worth $34,000 after purchasing an additional 8,133 shares in the last quarter. Finally, Federated Hermes Inc. bought a new position in Borr Drilling in the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 83.12% of the company’s stock.

Borr Drilling Company 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.