Borr Drilling Limited (NASDAQ:BORR) shares were down 11.3% on Wednesday . The stock traded as low as $1.25 and last traded at $1.42, approximately 2,272,085 shares traded hands during trading. An increase of 305% from the average daily volume of 561,357 shares. The stock had previously closed at $1.60.
Several equities research analysts have recently weighed in on BORR shares. BTIG Research cut shares of Borr Drilling from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 31st. SEB Equities lowered shares of Borr Drilling from a “buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, DNB Markets lowered shares of Borr Drilling from a “buy” rating to a “hold” rating in a research note on Monday, March 2nd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Borr Drilling currently has a consensus rating of “Hold” and a consensus price target of $7.00.
The company’s fifty day moving average price is $1.45 and its 200 day moving average price is $5.32.
About Borr Drilling (NASDAQ:BORR)
Borr Drilling Limited operates as an offshore drilling contractor to the oil and gas industry worldwide. As of December 31, 2018, the company operated a fleet of 27 jack-up drilling rigs. It provides drilling services to the oil and gas exploration and production industry. The company was formerly known as Magni Drilling Limited.
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