Borr Drilling (NYSE:BORR) Rating Lowered to Neutral at BTIG Research

Borr Drilling (NYSE:BORR - Get Free Report) was downgraded by research analysts at BTIG Research from a "buy" rating to a "neutral" rating in a note issued to investors on Monday,Finviz reports.

Borr Drilling Stock Performance

NYSE:BORR opened at $2.06 on Monday. Borr Drilling has a 12-month low of $1.55 and a 12-month high of $7.09. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $486.63 million, a PE ratio of 10.84 and a beta of 1.79. The firm has a 50-day moving average price of $1.92 and a 200 day moving average price of $2.46.

Borr Drilling (NYSE:BORR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The firm had revenue of $217.50 million for the quarter, compared to the consensus estimate of $231.17 million. Borr Drilling had a return on equity of 5.14% and a net margin of 5.11%.

Institutional Trading of Borr Drilling

Several hedge funds have recently modified their holdings of BORR. Millennium Management LLC grew its stake 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 valued at $8,345,000 after purchasing an additional 3,471,979 shares during the last quarter. Encompass Capital Advisors LLC bought a new position in Borr Drilling in the fourth quarter valued at approximately $10,718,000. Jane Street Group LLC boosted its stake in Borr Drilling by 842.5% in the fourth quarter. Jane Street Group LLC now owns 1,949,508 shares of the company's stock valued at $7,603,000 after acquiring an additional 1,742,670 shares during the last quarter. Linden Advisors LP bought a new position in Borr Drilling in the fourth quarter valued at approximately $6,321,000. Finally, Renaissance Technologies LLC boosted its stake in Borr Drilling by 5,369.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,509,600 shares of the company's stock valued at $5,887,000 after acquiring an additional 1,482,000 shares during the last quarter. 83.12% of the stock is owned by institutional investors.

Borr Drilling Company Profile

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.

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