The stock of Borr Drilling Limited (NYSE:BORR) is now priced at $0.94 and the shares are 0 points down or 0% lower compared to its previous closing price of $0.94. BORR shares have a float of 72.42 million and although its performance was -8.75% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the BORR share price recently placing at $0.93 to $0.989. However, some brokerage firms have priced the stock below the average, including one that has called $0.1.
The shorts are running away from the Borr Drilling Limited stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the BORR shares have declined. Short interest in the stock represents just 1.71% of its float, but the volume has dropped by 0.
In the last trading session, Borr Drilling Limited (NYSE:BORR) dropped by -$0.0601 over the week and lost -$0.1801 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $10.12. The stock recorded its established 52-week high on 07/31/19.
Since 03/18/20, the stock has traded to a low of $0.2426 at 287.43%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Borr Drilling Limited’s two-week RSI is 48.63. This suggests that the stock is neutral at the moment and that BORR shares’ price movement remains stable. The stochastic readings are equally revealing at 39.47% meaning the BORR share price is currently in neutral territory.
The technical chart shows that the BORR stock will likely settle at between $0.9759 and $1.012 per share. However, if the stock dips below $0.9169, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.894.
Currently, the stock is trading in the red of MACD, with a reading of -0.0321. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
The average rating for the BORR equity is 3 and is currently gathering a bullish momentum. Of 2 analysts tracking Borr Drilling Limited polled by Reuters, 2 rated BORR as a hold. The remaining 0 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.