Borr Drilling Limited (NYSE:BORR) Short Interest Update

Borr Drilling Limited (NYSE:BORR) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 24,140,000 shares, an increase of 57.8% from the December 15th total of 15,300,000 shares. Based on an average trading volume of 3,980,000 shares, the days-to-cover ratio is presently 6.1 days. Currently, 10.5% of the shares of the stock are sold short.

Borr Drilling Trading Down 1.0 %

NYSE BORR traded down $0.04 during mid-day trading on Friday, reaching $3.47. 5,199,123 shares of the stock were exchanged, compared to its average volume of 4,713,818. Borr Drilling has a 1-year low of $3.29 and a 1-year high of $7.42. The business’s fifty day simple moving average is $3.81 and its 200 day simple moving average is $5.08. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $875.20 million, a PE ratio of 10.50 and a beta of 2.89.

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

Borr Drilling Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.02 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.08 annualized dividend and a yield of 2.31%. Borr Drilling’s payout ratio is 30.30%.

Institutional Investors Weigh In On Borr Drilling

Large investors have recently made changes to their positions in the business. Point72 DIFC Ltd purchased a new stake in Borr Drilling during the 2nd quarter worth $30,000. Salvus Wealth Management LLC purchased a new stake in shares of Borr Drilling in the fourth quarter worth about $59,000. Ballentine Partners LLC acquired a new stake in shares of Borr Drilling in the fourth quarter valued at about $83,000. Westend Capital Management LLC purchased a new stake in shares of Borr Drilling during the 4th quarter valued at about $86,000. Finally, Xponance Inc. boosted its holdings in Borr Drilling by 13.3% in the 2nd quarter. Xponance Inc. now owns 15,058 shares of the company’s stock worth $97,000 after acquiring an additional 1,767 shares during the period. Institutional investors and hedge funds 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.