Borr Drilling (NYSE:BORR) Shares Down 12%

Borr Drilling Limited (NYSE:BORRGet Rating)’s share price fell 12% during mid-day trading on Friday . The stock traded as low as $3.29 and last traded at $3.30. 15,587 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 2,061,605 shares. The stock had previously closed at $3.75.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BORR. DNB Markets began coverage on shares of Borr Drilling in a report on Monday, September 12th. They issued a “buy” rating on the stock. Clarkson Capital raised shares of Borr Drilling from a “neutral” rating to a “buy” rating in a report on Tuesday.

Borr Drilling Price Performance

The stock has a market cap of $515.42 million, a P/E ratio of -1.65 and a beta of 3.62. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $3.78 and its 200-day simple moving average is $4.24.

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

Institutional Investors Weigh In On Borr Drilling

Several large investors have recently made changes to their positions in the company. State Street Corp acquired a new position in Borr Drilling during the 2nd quarter worth about $8,086,000. Renaissance Technologies LLC lifted its position in Borr Drilling by 3,450.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,059,611 shares of the company’s stock worth $3,570,000 after buying an additional 1,029,768 shares in the last quarter. Northern Trust Corp acquired a new position in Borr Drilling during the 2nd quarter worth about $4,106,000. Goldman Sachs Group Inc. lifted its position in Borr Drilling by 67.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 702,373 shares of the company’s stock worth $3,238,000 after buying an additional 282,527 shares in the last quarter. Finally, Swiss National Bank acquired a new position in Borr Drilling during the 2nd quarter worth about $1,427,000.

About Borr Drilling

(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.

Further Reading

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