Borr Drilling (NYSE:BORR) Director Purchases $501,250.00 in Stock

Borr Drilling Limited (NYSE:BORR) Director Jeffrey Currie purchased 125,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average price of $4.01 per share, for a total transaction of $501,250.00. Following the completion of the purchase, the director directly owned 479,423 shares in the company, valued at $1,922,486.23. This represents a 35.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Borr Drilling Stock Performance

Shares of BORR stock opened at $4.04 on Friday. The stock’s 50-day moving average is $4.27 and its two-hundred day moving average is $5.11. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.63 and a current ratio of 1.63. Borr Drilling Limited has a 1 year low of $2.28 and a 1 year high of $6.66. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -5.17 and a beta of 1.02.

Borr Drilling (NYSE:BORR) last announced its earnings results on Tuesday, August 11th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.58). The firm had revenue of $232.30 million during the quarter, compared to analyst estimates of $245.96 million. Borr Drilling had a negative net margin of 23.98% and a negative return on equity of 5.67%. Analysts predict that Borr Drilling Limited will post -0.13 earnings per share for the current year.

Institutional Trading of Borr Drilling

Hedge funds have recently modified their holdings of the business. Optiver Holding B.V. grew its holdings in Borr Drilling by 186.4% during the first quarter. Optiver Holding B.V. now owns 5,060 shares of the company’s stock worth $29,000 after acquiring an additional 3,293 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Borr Drilling by 2,435.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 8,467 shares of the company’s stock valued at $34,000 after acquiring an additional 8,133 shares during the period. Inspire Advisors LLC purchased a new stake in shares of Borr Drilling during the 4th quarter worth $44,000. Cetera Investment Advisers purchased a new stake in shares of Borr Drilling during the 1st quarter worth $66,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Borr Drilling during the 4th quarter worth $47,000. 83.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BORR shares. Capital One Financial set a $6.00 target price on shares of Borr Drilling and gave the company an “overweight” rating in a report on Wednesday, July 1st. Fearnley Fonds raised Borr Drilling from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Wall Street Zen lowered Borr Drilling from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Weiss Ratings downgraded Borr Drilling from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday. Finally, Zacks Research raised shares of Borr Drilling to a “hold” rating in a research note on Thursday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Borr Drilling presently has a consensus rating of “Moderate Buy” and an average target price of $4.88.

About Borr Drilling

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.