Borr Drilling (NYSE:BORR) Hits New 12-Month High - What's Next?

Key Points

• Borr Drilling hit a new 52-week high of $6.33 (last trade $6.2160) on heavy volume (~4.35M shares) and has a market capitalization of about $1.93 billion.
• Analysts are mixed: the consensus rating is Hold with an average price target of $4.33—well below the current price—while recent reports range from strong-buy to sell.
• Institutions own 83.12% of the stock, with notable buying including Millennium Management adding ~3.81M shares (about $8.35M), signaling significant institutional interest.

Borr Drilling Limited (NYSE:BORR - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $6.33 and last traded at $6.2160, with a volume of 4348584 shares traded. The stock had previously closed at $6.09.

Analysts Set New Price Targets

Several research firms have issued reports on BORR. Weiss Ratings lowered Borr Drilling from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, March 27th. Citigroup boosted their price target on Borr Drilling from $6.00 to $6.25 and gave the company a "neutral" rating in a report on Wednesday, February 25th. Fearnley Fonds raised Borr Drilling from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 21st. Finally, Wall Street Zen lowered Borr Drilling from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Borr Drilling has a consensus rating of "Hold" and an average price target of $4.33.

Borr Drilling Stock Up 0.7%

The company has a 50-day moving average price of $5.64 and a 200 day moving average price of $4.50. The firm has a market capitalization of $1.93 billion, a PE ratio of 36.15 and a beta of 1.10. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.19 and a quick ratio of 2.19.

Borr Drilling (NYSE:BORR - Get Free Report) last announced its quarterly earnings data on Saturday, February 14th. The company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.03. Borr Drilling had a return on equity of 4.14% and a net margin of 4.41%.The business had revenue of $259.40 million for the quarter, compared to the consensus estimate of $238.65 million.

Institutional Trading of Borr Drilling

Several hedge funds have recently bought and sold shares of BORR. AQR Capital Management LLC purchased a new stake in Borr Drilling in the 1st quarter worth $476,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Borr Drilling by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 140,927 shares of the company's stock worth $309,000 after buying an additional 6,012 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Borr Drilling by 1,025.5% during the first quarter. Millennium Management LLC now owns 3,810,556 shares of the company's stock worth $8,345,000 after purchasing an additional 3,471,979 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Borr Drilling during the first quarter worth $186,000. Finally, Creative Planning grew its position in shares of Borr Drilling by 13.1% in the second quarter. Creative Planning now owns 229,786 shares of the company's stock valued at $421,000 after purchasing an additional 26,541 shares during the period. 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.

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