Borr Drilling Limited (NYSE: BORR) stock fell -1.45% on Monday to $7.47 against a previous-day closing price of $7.58. With 1.43 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.68 million shares. During the session, the Oil & Gas Drilling company that operates in wider Energy sector, reached to the highest price of $7.74 whereas the lowest price it dropped to was $7.44. The 52-week range on BORR shows that it touched its highest point at $9.01 and its lowest point at $3.22 during that stretch. Beta for the stock currently stands at 2.97.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BORR was up-trending over the past week, with a rise of 8.58%, but this was down by -2.61% over a month. Three-month performance surged to 8.42% while six-month performance rose 14.05%. The stock gained 77.01% in the past year, while it has gained 50.30% so far this year. A look at the trailing 12-month EPS for BORR yields -0.23 with Next year EPS estimates of 1.28. For the next quarter, that number is 0.08. This implies an EPS growth rate of 129.30% for this year and 166.70% for next year.
Float and Shares Shorts:
At present, 246.24 million BORR shares are outstanding with a float of 172.04 million shares on hand for trading. On Aug 30, 2023, short shares totaled 11.92 million, which was 4.84% higher than short shares on Jul 30, 2023. In addition to Mr. Patrick Arnold Henk Schorn as the firm’s Chief Exec. Officer, Mr. Magnus Vaaler serves as its Chief Financial Officer.
Through their ownership of 68.95% of BORR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold — of BORR, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 4.78% stake in BORR, the Orbis SICAV – International Equit is the largest stakeholder. A total of 12,274,849 shares are owned by the mutual fund manager. The American Funds Small Cap World Fu, which owns about 2.02% of BORR stock, is the second-largest Mutual Fund holder. It holds 5,190,507 shares valued at 36.6 million. iShares Russell 2000 ETF holds 2.00% of the stake in BORR, owning 5,128,309 shares worth 36.16 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, BORR reported revenue of $105.30M and operating income of $700.00k. The EBITDA in the recently reported quarter was $24.60M and diluted EPS was -$1.09.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BORR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BORR analysts setting a high price target of $12.00 and a low target of $8.44, the average target price over the next 12 months is $9.99. Based on these targets, BORR could surge 60.64% to reach the target high and rise by 12.99% to reach the target low. Reaching the average price target will result in a growth of 33.73% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded BORR stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 1 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 1,000,000,000 while 872,073 shares were sold.