The stock of Helix Energy Solutions Group, Inc. (NYSE:HLX) is now priced at $4.66 and the shares are -0.19 points down or -3.92% lower compared to its previous closing price of $4.85. The stock had 4.407 million contracts set over the past session. HLX shares’ daily volume is compared to its average trading volume at 4.632 million shares. However, it has a float of 141 million and although its performance was 36.66% over the week, it’s one to watch. Analysts have given the HLX stock a yearly average price target of $4.28 per share. It means the stock’s downside potential is -8.15% with the HLX share price recently placing at $4.52 to $4.875. However, some brokerage firms have priced the stock below the average, including one that has called $5.
The shorts are running away from the Helix Energy Solutions Group, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the HLX shares have declined. Short interest in the stock represents just 7.33% of its float, but the volume has dropped by 0.
In the last trading session, Helix Energy Solutions Group, Inc. (NYSE:HLX) raised by $1.25 over the week and gained $1.09 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $10. The stock recorded its established 52-week high on 12/26/19.
Since 04/03/20, the stock has traded to a low of $0.99 at 370.71%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 3.69. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Helix Energy Solutions Group, Inc.’s two-week RSI is 64.94. This suggests that the stock is neutral at the moment and that HLX shares’ price movement remains stable. The stochastic readings are equally revealing at 74.84% meaning the HLX share price is currently in oversold territory.
The technical chart shows that the HLX stock will likely settle at between $4.85 and $5.04 per share. However, if the stock dips below $4.49, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $4.33.
Currently, the stock is trading in the green of MACD, with a reading of 0.59. 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.
Analysts at Piper Sandler raised their recommendation for HLX from Neutral to Overweight in July 23 review. BofA/Merrill analysts upgraded their recommendation of the stock from Neutral to Buy while keeping its target price at $4 in a flash note released to investors on May 28. CapitalOne seeing the stock struggling downgraded it from Overweight to Equal Weight on March 17.
The average rating for the HLX equity is 2.11 and is currently gathering a bullish momentum. Of 9 analysts tracking Helix Energy Solutions Group, Inc. polled by Reuters, 2 rated HLX as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (7) 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.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Helix Energy Solutions Group, Inc. (NYSE:HLX) will decrease by about -99.91%, which will see them reach $169.78 million. The company’s full-year revenues are, however, expected to diminish by about -9.41%, down from $751.91 million to $681.15 million. HLX’s expected adjusted earnings should drop almost -114.29% to end up at -$0.03 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -161.54% to record -$0.24/share.