Borr Drilling Limited $BORR Shares Purchased by Monaco Asset Management SAM

Monaco Asset Management SAM raised its holdings in shares of Borr Drilling Limited (NYSE:BORR) by 2,400.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 375,000 shares of the company’s stock after acquiring an additional 360,000 shares during the quarter. Monaco Asset Management SAM owned approximately 0.16% of Borr Drilling worth $686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Oak Thistle LLC acquired a new stake in shares of Borr Drilling in the first quarter valued at approximately $26,000. Abel Hall LLC acquired a new position in shares of Borr Drilling during the 1st quarter worth approximately $29,000. State of Wyoming purchased a new stake in Borr Drilling in the 1st quarter valued at approximately $30,000. Aigen Investment Management LP acquired a new stake in Borr Drilling during the 1st quarter valued at $33,000. Finally, CWM LLC grew its holdings in Borr Drilling by 3,109.7% during the 1st quarter. CWM LLC now owns 15,631 shares of the company’s stock valued at $34,000 after buying an additional 15,144 shares during the last quarter. Institutional investors and hedge funds own 83.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BORR shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Borr Drilling in a report on Wednesday, October 8th. Fearnley Fonds downgraded shares of Borr Drilling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. BTIG Research lowered shares of Borr Drilling from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Wall Street Zen raised shares of Borr Drilling from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, SEB Equity Research set a $2.40 price target on shares of Borr Drilling in a report on Monday, September 1st. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2.83.

Borr Drilling Stock Down 1.1%

Shares of NYSE:BORR opened at $3.18 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.28 and a debt-to-equity ratio of 1.70. The firm has a market cap of $750.03 million, a price-to-earnings ratio of 11.76 and a beta of 1.75. The stock’s 50-day moving average price is $2.92 and its two-hundred day moving average price is $2.35. Borr Drilling Limited has a 12-month low of $1.55 and a 12-month high of $4.23.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Borr Drilling had a net margin of 7.06% and a return on equity of 7.02%. The company had revenue of $277.10 million during the quarter, compared to the consensus estimate of $261.44 million.

About Borr Drilling

Borr Drilling Limited operates as an offshore shallow-water drilling contractor to the oil and gas industry worldwide. The company owns, contracts, and operates jack-up drilling 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.