Borr Drilling's (BORR) "Hold (C-)" Rating Reiterated at Weiss Ratings

Key Points

• Borr Drilling's stock has a reaffirmed "hold (C-)" rating by Weiss Ratings, reflecting its current performance status.
• The stock has an average price target of $2.83, with recent trading activity showing shares closing at $2.72.
• Institutional investors hold 83.12% of Borr Drilling's stock, indicating significant interest from large financial entities.

Borr Drilling (NYSE:BORR - Get Free Report)'s stock had its "hold (c-)" rating reaffirmed by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other analysts have also issued reports on the stock. SEB Equity Research set a $2.40 price target on shares of Borr Drilling in a research report on Monday, September 1st. BTIG Research lowered shares of Borr Drilling from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Fearnley Fonds lowered shares of Borr Drilling from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Finally, Citigroup initiated coverage on shares of Borr Drilling in a research report on Thursday, September 11th. They set a "neutral" rating and a $3.25 price target on the stock. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $2.83.

Borr Drilling Stock Performance

Shares of NYSE:BORR traded down $0.03 on Wednesday, reaching $2.72. 3,510,945 shares of the company's stock were exchanged, compared to its average volume of 5,396,907. The company has a fifty day moving average of $2.70 and a 200-day moving average of $2.22. Borr Drilling has a twelve month low of $1.55 and a twelve month high of $5.43. The company has a market capitalization of $642.55 million, a price-to-earnings ratio of 12.95 and a beta of 1.83. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.91.

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

Hedge Funds Weigh In On Borr Drilling

Hedge funds have recently bought and sold shares of the company. Jump Financial LLC raised its stake in Borr Drilling by 256.7% during the first quarter. Jump Financial LLC now owns 663,000 shares of the company's stock worth $1,452,000 after buying an additional 477,119 shares during the last quarter. HighTower Advisors LLC grew its holdings in Borr Drilling by 100.1% in the first quarter. HighTower Advisors LLC now owns 472,225 shares of the company's stock worth $1,034,000 after purchasing an additional 236,281 shares during the period. Capricorn Fund Managers Ltd acquired a new stake in Borr Drilling in the first quarter worth $241,000. Walleye Capital LLC acquired a new position in shares of Borr Drilling during the first quarter valued at about $591,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Borr Drilling by 51.6% during the first quarter. Janney Montgomery Scott LLC now owns 50,682 shares of the company's stock valued at $111,000 after buying an additional 17,240 shares during the last quarter. Institutional investors own 83.12% of the company's stock.

About Borr Drilling

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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