Borr Drilling Sees Unusually High Options Volume (NYSE:BORR)

by · The Cerbat Gem

Borr Drilling Limited (NYSE:BORR – Get Free Report) saw unusually large options trading on Tuesday. Stock traders acquired 3,291 call options on the company. This is an increase of 108% compared to the average daily volume of 1,583 call options.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wall Street Zen upgraded Borr Drilling from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Citigroup reaffirmed a “neutral” rating and set a $3.75 price target (up from $3.25) on shares of Borr Drilling in a research note on Friday, November 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Borr Drilling in a report on Wednesday, October 8th. Finally, SEB Equity Research set a $2.40 price objective on shares of Borr Drilling in a research note on Monday, September 1st. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $3.08.

Check Out Our Latest Report on Borr Drilling

Borr Drilling Trading Up 7.8%

BORR stock traded up $0.32 on Tuesday, hitting $4.38. 6,355,304 shares of the company were exchanged, compared to its average volume of 5,312,123. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 16.13 and a beta of 1.12. Borr Drilling has a twelve month low of $1.55 and a twelve month high of $4.38. The business’s fifty day moving average is $3.08 and its two-hundred day moving average is $2.59.

Borr Drilling (NYSE:BORR – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $277.10 million for the quarter, compared to analyst estimates of $261.44 million. Borr Drilling had a net margin of 7.06% and a return on equity of 7.02%.

Institutional Investors Weigh In On Borr Drilling

A number of institutional investors have recently added to or reduced their stakes in BORR. Jump Financial LLC increased its position 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 worth $1,452,000 after acquiring an additional 477,119 shares in the last quarter. HighTower Advisors LLC increased its holdings in Borr Drilling by 100.1% in the 1st quarter. HighTower Advisors LLC now owns 472,225 shares of the company’s stock valued at $1,034,000 after purchasing an additional 236,281 shares in the last quarter. Walleye Capital LLC purchased a new position in Borr Drilling in the first quarter valued at about $591,000. Monaco Asset Management SAM lifted its stake in shares of Borr Drilling by 2,400.0% during the second quarter. Monaco Asset Management SAM now owns 375,000 shares of the company’s stock worth $686,000 after purchasing an additional 360,000 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Borr Drilling by 169.9% during the first quarter. Hsbc Holdings PLC now owns 77,012 shares of the company’s stock worth $170,000 after purchasing an additional 48,474 shares in the last quarter. Hedge funds and other institutional investors own 83.12% of the company’s stock.

Borr Drilling Company Profile

(Get Free Report)

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.

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