Borr Drilling Ltd (NYSE:BORR) shares, rose in value on Thursday, April 04, with the stock price down by -6.07% to the previous day’s close as strong demand from buyers drove the stock to $5.88.
Actively observing the price movement in the recent trading, the stock is buoying the session at $6.26. The value of beta (5-year monthly) is 2.51 whereas the PE ratio is 82.82 over 12-month period. Referring to stock’s 52-week performance, its high was $8.87, and the low was $5.61. On the whole, BORR has fluctuated by -0.84% over the past month.
As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.16, which is expected to increase to $0.22 for fiscal year $0.85 and then to about $1.23 by fiscal year 2025. Data indicates that the EPS growth is expected to be 844.40% in 2025, while the next year’s EPS growth is forecast to be 44.70%.
Analysts have estimated the company’s revenue for the quarter at $239 million, with a low estimate of $237 million and a high estimate of $241 million. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $956 million, representing an increase of 23.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BORR’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of BORR currently trading nearly -11.06% and -8.72% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 38.98, while the 7-day volatility ratio is showing 5.26% which for the 30-day chart, stands at 3.75%. Furthermore, Borr Drilling Ltd (BORR)’s beta value is 2.95, and its average true range (ATR) is 0.32.
A comparison of Borr Drilling Ltd (BORR) with its peers suggests the former has fared considerably weaker in the market. BORR showed an intraday change of -6.07% in today’s session so far, and over the past year, it shrunk by -26.21%%.
Data on historical trading for Borr Drilling Ltd (NYSE:BORR) indicates that the trading volumes over the past 10 days have averaged 2.69 million and over the past 3 months, they’ve averaged 1.97 million. According to company’s latest data on outstanding shares, there are 252.58 million shares outstanding.
Nearly 14.32% of Borr Drilling Ltd’s shares belong to company insiders and institutional investors own 62.21% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.39 million shares as on Mar 15, 2024, resulting in a short ratio of 4.32. According to the data, the short interest in Borr Drilling Ltd (BORR) stood at 3.32% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 9.42 million. The stock has fallen by -18.89% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BORR stock heading into the next quarter.
