Market cap of Borr Drilling Limited [BORR] reaches 229.76M – now what?

Borr Drilling Limited [NYSE: BORR] gained 3.35% or 0.03 points to close at $0.84 with a heavy trading volume of 3242032 shares. The company report on June 30, 2021 that Borr Drilling Limited – Notice from NYSE regarding Continued Listing Standard.

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Borr Drilling Limited (the “Company” or “Borr”) (NYSE: BORR), (OSE: BDRILL) announces that the Company has received written notice from the New York Stock Exchange (the “NYSE”) that the Company is not in compliance with the NYSE continued listing standard with respect to the minimum average share price required by the NYSE because the average closing price of its common shares had fallen below $1.00 per share over a period of 30 consecutive trading days.

Under the NYSE rules, the Company can regain compliance with this standard and cure this deficiency if, during the six-month period following receipt of the NYSE notice, on the last trading day of any calendar month or on the last trading day of this six-month cure period, the Company’s common shares have a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30-trading day period ending on the last trading day of that month or the last trading day of the cure period, which for the Company means December 4, 2021.

It opened the trading session at $0.8497, the shares rose to $0.8577 and dropped to $0.8141, the range by which the price of stock traded the whole day. The daily chart for BORR points out that the company has recorded -1.19% loss over the past six months. However, it is still -127.03% lower than its most recent low trading price.

If we look at the average trading volume of 2.34M shares, BORR reached to a volume of 3242032 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BORR shares is $1.10 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BORR stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Borr Drilling Limited is set at 0.04, with the Price to Sales ratio for BORR stock in the period of the last 12 months amounting to 0.91. The Price to Book ratio for the last quarter was 0.07.

Trading performance analysis for BORR stock

Borr Drilling Limited [BORR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.74. With this latest performance, BORR shares dropped by -15.56% in over the last four-week period, additionally sinking by -1.19% over the last 6 months – not to mention a drop of -25.66% 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 40.30, with the RSI for the last a single of trading hit 41.08, and the three-weeks RSI is set at 41.29 for Borr Drilling Limited [BORR]. The present Moving Average for the last 50 days of trading for this stock 0.9296, while it was recorded at 0.8210 for the last single week of trading, and 0.8929 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 -42.24 and a Gross Margin at -26.28. Borr Drilling Limited’s Net Margin is presently recorded at -99.25.

Return on Total Capital for BORR is now -4.73, given the latest momentum, and Return on Invested Capital for the company is -11.11. Return on Equity for this stock declined to -28.23, with Return on Assets sitting at -10.25. When it comes to the capital structure of this company, Borr Drilling Limited [BORR] has a Total Debt to Total Equity ratio set at 181.99. Additionally, BORR Total Debt to Total Capital is recorded at 64.54, with Total Debt to Total Assets ending up at 59.97. Long-Term Debt to Equity for the company is recorded at 181.70, with the Long-Term Debt to Total Capital now at 64.43.

Receivables Turnover for the company is 3.18 with a Total Asset Turnover recorded at a value of 0.10.

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

There are presently around $14 million, or 33.26% 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 5,796,510, which is approximately -30.995% of the company’s market cap and around 10.61% of the total institutional ownership; LODBROK CAPITAL LLP, holding 3,582,443 shares of the stock with an approximate value of $3.01 million in BORR stocks shares; and ORBIS ALLAN GRAY LTD, currently with $1.95 million in BORR stock with ownership of nearly 0% of the company’s market capitalization.

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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 17 institutional holders increased their position in Borr Drilling Limited [NYSE:BORR] by around 5,925,610 shares. Additionally, 8 investors decreased positions by around 3,741,267 shares, while 4 investors held positions by with 6,514,261 shares. The mentioned changes placed institutional holdings at 16,181,138 shares, according to the latest SEC report filing. BORR stock had 9 new institutional investments in for a total of 4,131,801 shares, while 2 institutional investors sold positions of 47,986 shares during the same period.

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