Borr Drilling Limited (NYSE:BORR) Short Interest Update

Borr Drilling Limited (NYSE:BORR) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 15,300,000 shares, a growth of 5.6% from the November 30th total of 14,490,000 shares. Based on an average daily volume of 3,520,000 shares, the short-interest ratio is presently 4.3 days. Approximately 6.5% of the shares of the company are sold short.

Borr Drilling Stock Up 3.8 %

Shares of NYSE BORR opened at $4.05 on Friday. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $1.02 billion, a PE ratio of 12.27 and a beta of 2.95. Borr Drilling has a one year low of $3.29 and a one year high of $7.47. The business’s fifty day moving average price is $3.89 and its 200-day moving average price is $5.25.

Borr Drilling (NYSE:BORR) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.05). Borr Drilling had a net margin of 8.70% and a return on equity of 8.50%. The business had revenue of $241.60 million for the quarter.

Borr Drilling Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.02 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.08 dividend on an annualized basis and a yield of 1.98%. Borr Drilling’s dividend payout ratio is 30.30%.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI raised shares of Borr Drilling from an “in-line” rating to an “outperform” rating and set a $9.00 target price for the company in a research report on Friday, September 13th.

Institutional Investors Weigh In On Borr Drilling

Several institutional investors have recently made changes to their positions in BORR. Point72 DIFC Ltd bought a new stake in shares of Borr Drilling during the 2nd quarter valued at $30,000. Signaturefd LLC grew its holdings in Borr Drilling by 666.6% during the 2nd quarter. Signaturefd LLC now owns 7,865 shares of the company’s stock valued at $51,000 after buying an additional 6,839 shares in the last quarter. Xponance Inc. increased its position in shares of Borr Drilling by 13.3% during the second quarter. Xponance Inc. now owns 15,058 shares of the company’s stock valued at $97,000 after buying an additional 1,767 shares during the period. Sei Investments Co. purchased a new stake in shares of Borr Drilling in the second quarter worth about $99,000. Finally, SCP Investment LP bought a new position in shares of Borr Drilling in the third quarter valued at approximately $158,000. Hedge funds and other institutional investors own 83.12% of the company’s stock.

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.