Market cap of Borr Drilling Limited [BORR] reaches 120.09M – now what?

Borr Drilling Limited [NYSE: BORR] gained 38.79% or 0.16 points to close at $0.57 with a heavy trading volume of 15756602 shares. The company report on October 28, 2020 that Borr Drilling Limited – Sale of rig.

Borr Drilling Limited (the “Company”) (NYSE: “BORR”, OSE: “BDRILL”) has entered into an agreement to sell its cold stacked jack-up drilling rig “Atla” to an independent operator. The completion of the sale is expected in the fourth quarter 2020. Together with the previously announced sale of the standard jack-up drilling rig “Eir”, which has been completed in October, the Company will record total cash proceeds of USD 13 million.

With the sale of these jack-ups, Borr Drilling continues to deliver on its fleet strategy of divesting inactive, cold stacked units and focus on the modern and highly efficient core fleet of premium jack-up rigs. Following these rig sales, Borr Drilling will have 28 modern assets built after 2011, and one remaining older cold stacked rig which is likely to be sold within the fourth quarter.

It opened the trading session at $0.49, the shares rose to $0.7349 and dropped to $0.47, the range by which the price of stock traded the whole day. The daily chart for BORR points out that the company has recorded -2.67% loss over the past six months. However, it is still -137.5% lower than its most recent low trading price.

If we look at the average trading volume of 1.51M shares, BORR reached to a volume of 15756602 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Borr Drilling Limited [BORR]:

The Average True Range (ATR) for Borr Drilling Limited is set at 0.06, with the Price to Sales ratio for BORR stock in the period of the last 12 months amounting to 0.31. The Price to Book ratio for the last quarter was 0.05.

Trading performance analysis for BORR stock

Borr Drilling Limited [BORR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 37.23. With this latest performance, BORR shares gained by 6.50% in over the last four-week period, additionally sinking by -2.67% over the last 6 months – not to mention a drop of -91.23% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BORR stock in for the last two-week period is set at 62.45, with the RSI for the last a single of trading hit 73.09, and the three-weeks RSI is set at 53.24 for Borr Drilling Limited [BORR]. The present Moving Average for the last 50 days of trading for this stock 0.5918, while it was recorded at 0.4578 for the last single week of trading, and 1.2281 for the last 200 days.

Borr Drilling Limited [BORR]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Borr Drilling Limited [BORR] shares currently have an operating margin of -43.64 and a Gross Margin at -28.55. Borr Drilling Limited’s Net Margin is presently recorded at -89.08.

Return on Total Capital for BORR is now -5.15, given the latest momentum, and Return on Invested Capital for the company is -10.51. Return on Equity for this stock declined to -21.27, with Return on Assets sitting at -9.69. When it comes to the capital structure of this company, Borr Drilling Limited [BORR] has a Total Debt to Total Equity ratio set at 132.41. Additionally, BORR Total Debt to Total Capital is recorded at 56.97, with Total Debt to Total Assets ending up at 52.23. Long-Term Debt to Equity for the company is recorded at 132.14, with the Long-Term Debt to Total Capital now at 56.86.

Reflecting on the efficiency of the workforce at the company, Borr Drilling Limited [BORR] managed to generate an average of -$3,774,590 per employee. Receivables Turnover for the company is 3.39 with a Total Asset Turnover recorded at a value of 0.11.

Borr Drilling Limited [BORR]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Borr Drilling Limited posted -0.61/share EPS, while the average EPS was predicted by analysts to be reported at -0.14/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -335.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BORR.

An analysis of insider ownership at Borr Drilling Limited [BORR]

There are presently around $14 million, or 43.95% of BORR stock, in the hands of institutional investors. The top three institutional holders of BORR stocks are: ARTEMIS INVESTMENT MANAGEMENT LLP with ownership of 11,363,851, which is approximately -9.447% of the company’s market cap and around 13.98% of the total institutional ownership; FMR LLC, holding 5,514,706 shares of the stock with an approximate value of $3.17 million in BORR stocks shares; and ORBIS ALLAN GRAY LTD, currently with $1.34 million in BORR stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Borr Drilling Limited stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 12 institutional holders increased their position in Borr Drilling Limited [NYSE:BORR] by around 1,888,643 shares. Additionally, 21 investors decreased positions by around 6,126,398 shares, while 2 investors held positions by with 16,840,331 shares. The mentioned changes placed institutional holdings at 24,855,372 shares, according to the latest SEC report filing. BORR stock had 9 new institutional investments in for a total of 1,320,249 shares, while 8 institutional investors sold positions of 956,435 shares during the same period.

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