Borr Drilling (BORR) was named Smart Insider's stock pick of the week after two directors purchased a combined $3.9 million of shares on March 24.

Jeffery Currie, a director since October 2023, bought $1.3 million of stock at $5.31 per share in his first purchase since joining, Smart Insider said Tuesday, noting the transaction is an "encouraging" initial buy.

Tor Troim, a director since 2016 and former chair, acquired $2.6 million of shares on the same day, increasing his holding to 8.1% of shares outstanding, according to Smart Insider. The purchase is consistent with his prior activity, the note said, though it reflects buying into "recent strength."

Smart Insider said it ranked Borr Drilling +1, indicating a strong positive signal.

Price: 5.81, Change: +0.01, Percent Change: +0.17