Kepler Capital analyst Magnus Olsvik maintained a Sell rating on Borr Drilling (BORR) on August 7 and set a price target of NOK2.00. The company’s shares closed last Friday at $1.00, close to its 52-week low of $0.24.
According to TipRanks.com, Olsvik ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -8.1% and a 25.9% success rate. Olsvik covers the Services sector, focusing on stocks such as Shelf Drilling, Kvaerner ASA, and Akastor ASA.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Borr Drilling with a $0.66 average price target.
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Based on Borr Drilling’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $104 million and GAAP net loss of $87 million. In comparison, last year the company earned revenue of $51.9 million and had a GAAP net loss of $54.9 million.
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Borr Drilling Ltd. engages in the provision of drilling services to the oil and gas exploration and production industry. The firm will acquire and operate drilling assets. The company was founded on August 8, 2016 and is headquartered in Hamilton, Bermuda.
