Free Trial

Borr Drilling (NYSE:BORR) Stock Price Down 4.3% - Here's What Happened

Borr Drilling logo with Energy background

Key Points

  • Borr Drilling's stock price fell 4.3% to $2.81, significantly lower than its previous close of $2.93, with trading volumes down 88% from average levels.
  • Several analysts have dropped their ratings for Borr Drilling, with Fearnley Fonds reducing its rating from "strong-buy" to "hold" and Citigroup assigning a "neutral" rating with a price target of $3.25.
  • Borr Drilling recently reported quarterly earnings of $0.14 per share, surpassing analyst expectations, and generated revenue of $267.70 million, which also beat forecasts.
  • Five stocks to consider instead of Borr Drilling.

Borr Drilling Limited (NYSE:BORR - Get Free Report)'s stock price traded down 4.3% on Monday . The stock traded as low as $2.78 and last traded at $2.81. 634,831 shares were traded during mid-day trading, a decline of 88% from the average session volume of 5,440,759 shares. The stock had previously closed at $2.93.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Fearnley Fonds downgraded shares of Borr Drilling from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. SEB Equity Research set a $2.40 price target on shares of Borr Drilling in a research note on Monday, September 1st. Citigroup assumed coverage on shares of Borr Drilling in a research note on Thursday, September 11th. They issued a "neutral" rating and a $3.25 price target on the stock. Finally, BTIG Research downgraded shares of Borr Drilling from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Borr Drilling currently has a consensus rating of "Hold" and an average target price of $2.83.

View Our Latest Stock Report on BORR

Borr Drilling Trading Down 6.3%

The firm has a market capitalization of $648.22 million, a price-to-earnings ratio of 13.02 and a beta of 1.98. The business's 50-day simple moving average is $2.61 and its two-hundred day simple moving average is $2.19. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.91.

Borr Drilling (NYSE:BORR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.03. Borr Drilling had a net margin of 5.48% and a return on equity of 5.46%. The business had revenue of $267.70 million during the quarter, compared to analysts' expectations of $265.81 million.

Institutional Investors Weigh In On Borr Drilling

A number of institutional investors have recently made changes to their positions in the stock. Millennium Management LLC increased its position 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 acquiring an additional 3,471,979 shares during the last quarter. Tejara Capital Ltd lifted its holdings in Borr Drilling by 4.2% during the 1st quarter. Tejara Capital Ltd now owns 2,293,558 shares of the company's stock worth $5,023,000 after buying an additional 91,969 shares in the last quarter. Bank of America Corp DE boosted its position in Borr Drilling by 14.3% in the 2nd quarter. Bank of America Corp DE now owns 1,883,941 shares of the company's stock valued at $3,448,000 after buying an additional 235,967 shares during the period. De Lisle Partners LLP grew its stake in shares of Borr Drilling by 1.7% in the first quarter. De Lisle Partners LLP now owns 1,801,424 shares of the company's stock worth $3,954,000 after acquiring an additional 30,000 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC grew its stake in shares of Borr Drilling by 2.2% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,056,112 shares of the company's stock worth $2,556,000 after acquiring an additional 22,795 shares in the last quarter. 83.12% of the stock is currently owned by institutional investors and hedge funds.

About Borr Drilling

(Get Free Report)

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.

See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Borr Drilling Right Now?

Before you consider Borr Drilling, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Borr Drilling wasn't on the list.

While Borr Drilling currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The 10 Best AI Stocks to Own in 2025 Cover

Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.

Get This Free Report
Like this article? Share it with a colleague.