Helix Energy Solutions Group, Inc. (HLX): Why Is It Down -4.93 Percent Today

The biggest losers of the session on the Wall Street include Helix Energy Solutions Group, Inc. (NYSE:HLX), which fell -0.36 points or -4.93% to trade at $6.94 as last check. The stock closed last session at $7.3 and sets an active trading volume day with a reported 317504 contracts so far this session. HLX shares had a relatively better volume day versus average trading capacity of 1.31 million shares, but with a 0.14 billion float and a -6.77% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for HLX stock indicates that the average analyst price target is $10.58 per share. This means the stock has a potential increase of 52.45% from where the HLX share price has been trading recently which is between $7.135 and $7.71. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $10.

The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Have Insiders Been Selling Helix Energy Solutions Group, Inc. (NYSE:HLX) Shares?” and dated May 21, 2019.

During the recent trading session for Helix Energy Solutions Group, Inc. (NYSE:HLX), the company witnessed their stock drop by $-1.06 over a week and tumble down $-0.72 from the price 20 days ago. When compared to their established 52-week high of $10.89, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/09/18. The recent low of $5.05 stood for a -36.27% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.74 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Helix Energy Solutions Group, Inc., the two-week RSI stands at 35.03. This figure suggests that HLX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current HLX readings is similarly very revealing as it has a stochastic reading of 31.48% at this stage. This figure means that HLX share price today is being neutral.

Technical chart claims that Helix Energy Solutions Group, Inc. (HLX) would settle between $7.63/share to $7.96/share level. However, if the stock price goes below the $7.05 mark, then the market for Helix Energy Solutions Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $6.81 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.25. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Cowen lifted target price for shares of HLX but were stick to Outperform recommendation for the stock in their opinion released on February 21. The price target has been raised from $11 to $10. Raymond James analysts bumped their rating on Helix Energy Solutions Group, Inc. (NYSE:HLX) stock from Mkt Perform to Outperform in a separate flash note issued to investors on April 26. Analysts at Piper Jaffray released an upgrade from Neutral to Overweight for the stock, in a research note that dated back to April 25.

HLX equity has an average rating of 1.86, with the figure leaning towards a bullish end. 7 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 7 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 7 analysts rated Helix Energy Solutions Group, Inc. (NYSE:HLX) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, HLX stock price is currently trading at 17.38X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.8 while for the average stock in the same group, the multiple is 2.28.

Helix Energy Solutions Group, Inc. (HLX)’s current-quarter revenues are projected to climb by nearly -3% to hit $198490, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -0.09% from $739820 to a noteworthy $739180. At the other end of the current quarter income statement, Helix Energy Solutions Group, Inc. is expected to see its adjusted earnings surge by roughly 16.67% to hit $0.14 per share. For the fiscal year, HLX’s earnings are projected to climb by roughly 47.37% to hit $0.28 per share.