R Squared Ltd Takes $35,000 Position in Borr Drilling Limited $BORR

R Squared Ltd bought a new stake in Borr Drilling Limited (NYSE:BORR) during the 2nd quarter, Holdings Channel reports. The firm bought 19,320 shares of the company’s stock, valued at approximately $35,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BORR. Millennium Management LLC grew its position in shares of Borr Drilling by 1,025.5% in the first quarter. Millennium Management LLC now owns 3,810,556 shares of the company’s stock valued at $8,345,000 after purchasing an additional 3,471,979 shares during the last quarter. Jump Financial LLC boosted its stake in shares of Borr Drilling by 256.7% in the first quarter. Jump Financial LLC now owns 663,000 shares of the company’s stock valued at $1,452,000 after buying an additional 477,119 shares during the period. Walleye Capital LLC bought a new stake in shares of Borr Drilling in the first quarter valued at approximately $591,000. HighTower Advisors LLC boosted its stake in shares of Borr Drilling by 100.1% in the first quarter. HighTower Advisors LLC now owns 472,225 shares of the company’s stock valued at $1,034,000 after buying an additional 236,281 shares during the period. Finally, AQR Capital Management LLC bought a new stake in shares of Borr Drilling in the first quarter valued at approximately $476,000. Institutional investors and hedge funds own 83.12% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BORR shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Borr Drilling in a research note on Friday. BTIG Research cut Borr Drilling from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. Wall Street Zen upgraded Borr Drilling from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Citigroup started coverage on Borr Drilling in a research note on Thursday, September 11th. They issued a “neutral” rating and a $3.25 price target for the company. Finally, SEB Equity Research set a $2.40 price target on Borr Drilling in a research note on Monday, September 1st. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.83.

Borr Drilling Stock Down 2.1%

Shares of NYSE:BORR opened at $3.02 on Monday. The company has a fifty day moving average of $2.83 and a 200-day moving average of $2.27. The company has a market capitalization of $712.23 million, a PE ratio of 14.36 and a beta of 1.83. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.28 and a current ratio of 1.28. Borr Drilling Limited has a 52-week low of $1.55 and a 52-week high of $4.86.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Wednesday, August 13th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $267.70 million during the quarter, compared to the consensus estimate of $265.81 million. Borr Drilling had a return on equity of 5.46% and a net margin of 5.48%.

Borr Drilling 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.