Borr Drilling Limited [NYSE: BORR] gained 0.42% on the last trading session, reaching $0.81 price per share at the time. The company report on July 7, 2021 that Borr Drilling Limited – Announces At-The-Market Offering of up to $40 Million.
Borr Drilling Limited (the “Company”) (NYSE: BORR) (OSE: BORR) announces that it has established an “at-the-market program” and entered into an Equity Distribution Agreement with Clarksons Platou Securities, Inc., as our sales agent, dated July 6, 2021 under which we may offer and sell from time to time up to $40 million of our common shares to be listed on the New York Stock Exchange.
In accordance with the terms of the Equity Distribution Agreement, the Company may offer and sell its common shares at any time and from time to time through Clarksons Platou Securities, Inc. as its sales agent. The sales agent may act as an agent on our behalf or purchase shares of our common shares as a principal. Sales of our common shares, if any, may be made in ordinary brokers’ transactions through the New York Stock Exchange at market prices or in block transactions or as otherwise agreed between the Company and Clarksons Platou Securities, Inc. as sales agent. The securities may be sold at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices. No common shares will be offered or sold on Oslo Stock Exchange.
Borr Drilling Limited represents 273.53 million in outstanding shares, while the company has a total market value of $222.02 million with the latest information. BORR stock price has been found in the range of $0.805 to $0.8477.
If compared to the average trading volume of 2.36M shares, BORR reached a trading volume of 2499670 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 0.88. The Price to Book ratio for the last quarter was 0.07.
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 3.30. With this latest performance, BORR shares dropped by -16.94% in over the last four-week period, additionally plugging by 0.21% over the last 6 months – not to mention a drop of -24.84% 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 36.70, with the RSI for the last a single of trading hit 35.55, and the three-weeks RSI is set at 38.79 for Borr Drilling Limited [BORR]. The present Moving Average for the last 50 days of trading for this stock 0.9252, while it was recorded at 0.8164 for the last single week of trading, and 0.8930 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 $13 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 $2.91 million in BORR stocks shares; and ORBIS ALLAN GRAY LTD, currently with $1.89 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 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.