Borr Drilling (NYSE:BORR) Stock Price Up 6.7% - Here's Why

Borr Drilling Limited (NYSE:BORR - Get Free Report) shot up 6.7% on Tuesday . The stock traded as high as $2.18 and last traded at $2.20. 1,234,055 shares traded hands during trading, a decline of 69% from the average session volume of 3,999,289 shares. The stock had previously closed at $2.06.

Borr Drilling Price Performance

The firm has a market cap of $539.64 million, a PE ratio of 7.05 and a beta of 1.84. The firm has a fifty day simple moving average of $1.86 and a two-hundred day simple moving average of $2.70. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.41 and a current ratio of 1.41.

Borr Drilling (NYSE:BORR - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported ($0.07) 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 institutional investors and hedge funds have recently bought and sold shares of the company. X Square Capital LLC raised its position in shares of Borr Drilling by 3.2% in the 4th quarter. X Square Capital LLC now owns 183,434 shares of the company's stock worth $715,000 after acquiring an additional 5,707 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 buying an additional 6,012 shares during the last quarter. Private Advisor Group LLC grew its stake in 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 buying an additional 6,200 shares during the last quarter. Sterling Capital Management LLC grew its stake in Borr Drilling by 828.2% during the 4th quarter. Sterling Capital Management LLC now owns 7,593 shares of the company's stock worth $30,000 after buying an additional 6,775 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in Borr Drilling by 6.3% during 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 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.