Helix Energy Solutions Group (NYSE:HLX) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Helix Energy Solutions Group's share price has recently surpassed its 200-day moving average, trading at $6.66, indicating potential upward momentum in the stock.
• Wall Street analysts have mixed ratings for Helix, with a consensus rating of "Hold" and a set price target averaging $12.00, as some firms downgrade while others maintain their outlook.
• The company missed quarterly earnings expectations, reporting a loss of ($0.02) EPS, and prompted concerns due to lower-than-expected revenue of $302.29 million compared to analyst forecasts.

Helix Energy Solutions Group, Inc. (NYSE:HLX - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.55 and traded as high as $6.86. Helix Energy Solutions Group shares last traded at $6.66, with a volume of 1,262,069 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HLX. Raymond James Financial restated an "outperform" rating and issued a $9.00 price target (down from $10.00) on shares of Helix Energy Solutions Group in a research note on Friday, July 25th. Wall Street Zen cut shares of Helix Energy Solutions Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Zacks Research upgraded shares of Helix Energy Solutions Group from a "strong sell" rating to a "hold" rating in a research note on Monday, September 22nd. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Helix Energy Solutions Group in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $12.00.

Helix Energy Solutions Group Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.19 and a current ratio of 2.19. The business's fifty day moving average price is $6.27 and its two-hundred day moving average price is $6.55. The stock has a market capitalization of $978.95 million, a P/E ratio of 20.81 and a beta of 1.53.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The oil and gas company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.03). Helix Energy Solutions Group had a return on equity of 3.23% and a net margin of 3.92%.The company had revenue of $302.29 million during the quarter, compared to analysts' expectations of $326.62 million. Helix Energy Solutions Group has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Helix Energy Solutions Group, Inc. will post 0.26 earnings per share for the current year.

Institutional Trading of Helix Energy Solutions Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. boosted its stake in Helix Energy Solutions Group by 219.2% during the second quarter. Invesco Ltd. now owns 3,198,950 shares of the oil and gas company's stock worth $19,961,000 after buying an additional 2,196,916 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in shares of Helix Energy Solutions Group in the 2nd quarter worth about $10,296,000. Cerity Partners LLC purchased a new position in shares of Helix Energy Solutions Group during the 2nd quarter worth about $8,108,000. Encompass Capital Advisors LLC grew its holdings in Helix Energy Solutions Group by 24.3% during the 1st quarter. Encompass Capital Advisors LLC now owns 5,099,383 shares of the oil and gas company's stock valued at $42,376,000 after purchasing an additional 996,088 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Helix Energy Solutions Group in the 1st quarter worth about $7,378,000. Hedge funds and other institutional investors own 91.33% of the company's stock.

About Helix Energy Solutions Group

Helix Energy Solutions Group, Inc, together with its subsidiaries, an offshore energy services company, provides specialty services to the offshore energy industry in Brazil, the Gulf of Mexico, the East Coast of the United States, North Sea, the Asia Pacific, and West Africa regions. The company operates through four segments: Well Intervention, Robotics, Production Facilities, and Shallow Water Abandonment segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.