11 Best High Volume Penny Stocks to Buy Now

8. Borr Drilling Limited (NYSE:BORR)

On March 11, 2026, SEB Equities analyst Kim Andre Uggedal downgraded Borr Drilling Limited (NYSE:BORR) to Hold from Buy with a $5.45 price target, citing valuation and saying the recovery in the jack-up market is already reflected in the share price.

On March 9, 2026, Borr Drilling provided an operational update following hostilities in the Arabian Gulf, where the company has four jack-up rigs deployed across Saudi Arabia, the UAE, and Qatar. Three rigs in Qatar and the UAE were down-manned as a precaution, while the Arabia III was shut down after an incident on a customer-operated platform, with all personnel safely evacuated. CEO Bruno Morand said ensuring safety remains the company’s “highest priority,” noting that operations will stay on standby until conditions allow for a safe restart. The company added that all four rigs remain under contract and insured.

Last month, Borr Drilling reported Q4 revenue of $259.4M versus the $240.06M consensus estimate and a net loss of $1.0M, improving by $28.8M from Q3. Adjusted EBITDA was $105.2M, down $30.4M sequentially. The company said operational performance remained “solid,” supported by high utilization rates, while revenue declined due to sanctions-related contract terminations and lower day rates on transitioning rigs. Management added that demand is gradually recovering, particularly in the Middle East, with a growing pipeline of long-term tenders and expectations for improving market conditions into the second half of 2026.

Borr Drilling Limited (NYSE:BORR) provides offshore shallow-water drilling services to the oil and gas industry across multiple global regions.