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Thursday, October 1, 2020

Borr Drilling Limited (NYSE:BORR) on the Path to Ruin

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The Borr Drilling Limited (BORR) shares are trading at lower $0.96 and the avg recommendation for the stock is Hold.

To add more color to this target, the company’s high over the last year is $10.12 and the low is $0.24. Over the last 52 weeks, BORR is down -90.49% while the S&P 500 is up 0.73%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, BORR reported a profit of $-26.8 million. Borr Drilling Limited also saw revenues decrease to $104.1 million. In addition, BORR has free cash flow of $0.0 as of 03-2020. The company’s EBITDA came in at -$26.8 million which compares well with its peers.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. BORR has a short ratio of 0.24 and outstanding shares of 156.97M.

Company Outlook

BORR has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.53 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -3.26. Borr Drilling Limited BORR also noted assets of $3.33 billion at the end of the last quarter. Investors should also keep an eye on sector updates as BORR has historically followed its peers on positive news.

All told, Borr Drilling Limited BORR has strung together solid data and demonstrated underlying fundamentals. At its current valuation, BORR represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Borr Drilling Limited BORR is now commanding a market cap of 151.08M and a float of 72.42M. BORR is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of BORR stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in BORR, either long or short, and we have not been compensated for this article.

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