Borr Drilling (NYSE:BORR) Sets New 12-Month Low – Should You Sell?

Borr Drilling Limited (NYSE:BORR) reached a new 52-week low during trading on Tuesday . The company traded as low as $3.03 and last traded at $3.06, with a volume of 1363999 shares trading hands. The stock had previously closed at $3.13.

Borr Drilling Stock Down 2.4 %

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $771.63 million, a P/E ratio of 9.26 and a beta of 2.84. The stock’s 50 day simple moving average is $3.60 and its 200 day simple moving average is $4.54.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in Borr Drilling by 52.9% during the 3rd quarter. Barclays PLC now owns 718,537 shares of the company’s stock valued at $3,944,000 after acquiring an additional 248,482 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Borr Drilling by 31.7% in the 3rd quarter. Private Advisor Group LLC now owns 33,443 shares of the company’s stock worth $184,000 after buying an additional 8,054 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Borr Drilling by 1.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 432,893 shares of the company’s stock worth $2,377,000 after buying an additional 7,682 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Borr Drilling in the 3rd quarter worth about $303,000. Finally, FMR LLC lifted its position in shares of Borr Drilling by 0.4% in the 3rd quarter. FMR LLC now owns 7,668,451 shares of the company’s stock worth $42,108,000 after buying an additional 28,587 shares during the last quarter. 83.12% of the stock is currently owned by institutional investors.

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.