Borr Drilling (NYSE:BORR) Shares Gap Up – Should You Buy?

Borr Drilling Limited (NYSE:BORR) gapped up prior to trading on Thursday . The stock had previously closed at $2.98, but opened at $3.20. Borr Drilling shares last traded at $2.94, with a volume of 2,712,198 shares trading hands.

Borr Drilling Stock Performance

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.91. The company has a market cap of $764.05 million, a PE ratio of 9.19 and a beta of 2.84. The firm has a fifty day simple moving average of $3.58 and a 200-day simple moving average of $4.53.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). Borr Drilling had a net margin of 8.70% and a return on equity of 8.50%. The business had revenue of $263.10 million during the quarter, compared to analyst estimates of $247.78 million.

Institutional Trading of Borr Drilling

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC lifted its stake in shares of Borr Drilling by 828.2% in the 4th quarter. Sterling Capital Management LLC now owns 7,593 shares of the company’s stock valued at $30,000 after purchasing an additional 6,775 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Borr Drilling during the fourth quarter worth approximately $59,000. Salvus Wealth Management LLC acquired a new stake in shares of Borr Drilling in the fourth quarter worth $59,000. Natixis purchased a new position in shares of Borr Drilling in the 4th quarter valued at $58,000. Finally, CacheTech Inc. acquired a new position in shares of Borr Drilling during the 4th quarter valued at $81,000. 83.12% of the stock is owned by hedge funds and other 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.