Borr Drilling (NYSE:BORR) Shares Gap Up - What's Next?

Borr Drilling Limited (NYSE:BORR - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $2.19, but opened at $2.33. Borr Drilling shares last traded at $2.26, with a volume of 1,389,862 shares changing hands.

Borr Drilling Stock Down 1.1%

The stock has a market capitalization of $534.86 million, a PE ratio of 6.98 and a beta of 1.84. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.91. The company's 50-day moving average is $1.86 and its 200 day moving average is $2.69.

Borr Drilling (NYSE:BORR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.04). The company had revenue of $217.50 million during the quarter, compared to analysts' expectations of $231.17 million. Borr Drilling had a return on equity of 8.27% and a net margin of 8.12%.

Institutional Investors Weigh In On Borr Drilling

A number of large investors have recently bought and sold shares of BORR. X Square Capital LLC grew its position in Borr Drilling by 3.2% during the fourth quarter. X Square Capital LLC now owns 183,434 shares of the company's stock valued at $715,000 after buying an additional 5,707 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Borr Drilling by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 140,927 shares of the company's stock worth $309,000 after acquiring an additional 6,012 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Borr Drilling by 24.9% during the 1st quarter. Private Advisor Group LLC now owns 31,062 shares of the company's stock worth $68,000 after acquiring an additional 6,200 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of Borr Drilling by 828.2% during the 4th quarter. Sterling Capital Management LLC now owns 7,593 shares of the company's stock valued at $30,000 after acquiring an additional 6,775 shares during the period. Finally, MetLife Investment Management LLC increased its stake in shares of Borr Drilling by 6.3% in the 4th quarter. MetLife Investment Management LLC now owns 146,500 shares of the company's stock valued at $571,000 after purchasing an additional 8,698 shares in the last quarter. Hedge funds and other institutional investors own 83.12% of the company's stock.

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.