Borr Drilling (NYSE:BORR) Sets New 1-Year High – Here’s What Happened

Borr Drilling Limited (NYSE:BORR)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $5.68 and last traded at $5.64, with a volume of 11321417 shares trading hands. The stock had previously closed at $5.30.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BORR shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Borr Drilling in a report on Wednesday, January 21st. Citigroup restated a “neutral” rating and issued a $4.60 price objective (up previously from $3.75) on shares of Borr Drilling in a report on Monday, January 12th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.50.

Borr Drilling Trading Up 6.4%

The firm has a market capitalization of $1.78 billion, a PE ratio of 20.89 and a beta of 1.11. The firm has a 50 day simple moving average of $4.26 and a 200 day simple moving average of $3.33. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.70.

Institutional Investors Weigh In On Borr Drilling

Several large investors have recently bought and sold shares of BORR. Wealth Enhancement Advisory Services LLC lifted its stake in Borr Drilling by 9.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,278 shares of the company’s stock valued at $121,000 after acquiring an additional 2,560 shares during the period. Salvus Wealth Management LLC lifted its position in Borr Drilling by 13.6% during the fourth quarter. Salvus Wealth Management LLC now owns 30,935 shares of the company’s stock valued at $125,000 after purchasing an additional 3,715 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Borr Drilling by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 140,927 shares of the company’s stock worth $309,000 after purchasing an additional 6,012 shares during the last quarter. ProShare Advisors LLC grew its position in Borr Drilling by 14.9% in the 4th quarter. ProShare Advisors LLC now owns 48,651 shares of the company’s stock worth $196,000 after purchasing an additional 6,314 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in Borr Drilling by 36.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,908 shares of the company’s stock valued at $57,000 after buying an additional 8,233 shares during the last quarter. 83.12% of the stock is currently owned by institutional investors.

About Borr Drilling

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.