Borr Drilling (NYSE:BORR) Sets New 52-Week High – Still a Buy?

Borr Drilling Limited (NYSE:BORR)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $4.61 and last traded at $4.6050, with a volume of 1874967 shares. The stock had previously closed at $4.38.

Analyst Upgrades and Downgrades

BORR has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Borr Drilling in a research report on Wednesday. Wall Street Zen raised Borr Drilling from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Citigroup reiterated a “neutral” rating and set a $4.60 target price (up from $3.75) on shares of Borr Drilling in a research report on Monday, January 12th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $3.50.

Borr Drilling Trading Up 4.5%

The firm’s 50 day simple moving average is $3.87 and its 200-day simple moving average is $3.08. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $1.44 billion, a PE ratio of 16.87 and a beta of 1.09.

Borr Drilling (NYSE:BORR) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. Borr Drilling had a return on equity of 7.02% and a net margin of 7.06%.The company had revenue of $277.10 million for the quarter, compared to analyst estimates of $261.44 million.

Institutional Trading of Borr Drilling

A number of hedge funds and other institutional investors have recently made changes to their positions in BORR. TT International Asset Management LTD acquired a new position in shares of Borr Drilling in the 4th quarter worth approximately $1,024,000. Capricorn Fund Managers Ltd bought a new stake in Borr Drilling during the fourth quarter worth approximately $443,000. Regatta Capital Group LLC acquired a new position in Borr Drilling in the fourth quarter worth approximately $47,000. Salvus Wealth Management LLC increased its holdings in shares of Borr Drilling by 13.6% in the fourth quarter. Salvus Wealth Management LLC now owns 30,935 shares of the company’s stock valued at $125,000 after buying an additional 3,715 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Borr Drilling during the 4th quarter valued at $152,000. Institutional investors own 83.12% of the company’s stock.

Borr Drilling Company Profile

Borr Drilling is an international offshore drilling contractor providing premium jack-up drilling services to the oil and gas industry. Established in 2016 and incorporated in Bermuda with headquarters in Hamilton, the company is listed on the New York Stock Exchange under the ticker symbol BORR. Borr Drilling focuses exclusively on the ownership and operation of mobile offshore jack-up rigs, catering to exploration and production drilling projects in both mature and emerging hydrocarbon regions.

The company’s core business activities encompass the long-term contracting of high-specification jack-up rigs suitable for shallow-to-intermediate water depths.