Borr Drilling (NYSE:BORR) Sets New 12-Month Low – Should You Sell?

Borr Drilling Limited (NYSE:BORR)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $3.03 and last traded at $3.06, with a volume of 1363999 shares traded. The stock had previously closed at $3.13.

Borr Drilling Stock Down 2.4 %

The firm’s 50-day moving average price is $3.60 and its 200-day moving average price is $4.54. The company has a market cap of $771.63 million, a price-to-earnings ratio of 9.26 and a beta of 2.84. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.41 and a quick ratio of 1.41.

Institutional Investors Weigh In On Borr Drilling

A number of large investors have recently added to or reduced their stakes in BORR. Private Advisor Group LLC grew its holdings in Borr Drilling by 31.7% during the 3rd quarter. Private Advisor Group LLC now owns 33,443 shares of the company’s stock valued at $184,000 after purchasing an additional 8,054 shares in the last quarter. X Square Capital LLC grew its holdings in Borr Drilling by 6.9% during the 3rd quarter. X Square Capital LLC now owns 177,727 shares of the company’s stock valued at $976,000 after purchasing an additional 11,434 shares in the last quarter. SCP Investment LP bought a new position in Borr Drilling during the 3rd quarter valued at $158,000. Intech Investment Management LLC bought a new position in Borr Drilling during the 3rd quarter valued at $303,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Borr Drilling by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 570,909 shares of the company’s stock valued at $3,134,000 after acquiring an additional 9,976 shares during the last quarter. 83.12% of the stock is owned by institutional investors and hedge funds.

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.