Helix Energy Solutions Group (NYSE:HLX) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• HLX shares moved above their 200-day moving average of $9.12, reaching $10.06 before last trading at $9.6510 on volume of approximately 1.2 million shares.
• Analyst sentiment remains mixed: TD Cowen raised its price target to $14 and issued a “Buy” rating, while Weiss Ratings reaffirmed a “Sell” rating. The overall analyst consensus is “Hold,” with a $14 average price target.
• Institutional investors own approximately 91.33% of Helix Energy Solutions Group, with several hedge funds recently initiating or increasing positions in the offshore well-intervention and subsea-services provider.

Helix Energy Solutions Group, Inc. (NYSE:HLX - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.12 and traded as high as $10.06. Helix Energy Solutions Group shares last traded at $9.6510, with a volume of 1,198,810 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HLX. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Helix Energy Solutions Group in a research note on Friday. TD Cowen raised their price target on shares of Helix Energy Solutions Group from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, April 24th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $14.00.

Helix Energy Solutions Group Trading Down 2.6%

The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 96.51 and a beta of 1.12. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.92 and a current ratio of 2.92. The company has a 50-day moving average price of $9.35 and a 200-day moving average price of $9.12.

Institutional Trading of Helix Energy Solutions Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HLX. Tudor Investment Corp ET AL purchased a new position in shares of Helix Energy Solutions Group in the 3rd quarter valued at $799,000. Bastion Asset Management Inc. purchased a new stake in Helix Energy Solutions Group in the first quarter valued at $8,581,000. Simcoe Capital LLC purchased a new stake in Helix Energy Solutions Group in the fourth quarter valued at $3,816,000. Aristeia Capital L.L.C. lifted its position in Helix Energy Solutions Group by 807.6% in the fourth quarter. Aristeia Capital L.L.C. now owns 126,126 shares of the oil and gas company's stock valued at $791,000 after acquiring an additional 112,229 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in Helix Energy Solutions Group by 34.4% in the fourth quarter. Royce & Associates LP now owns 226,320 shares of the oil and gas company's stock valued at $1,419,000 after acquiring an additional 57,987 shares in the last quarter. Institutional investors and hedge funds own 91.33% of the company's stock.

Helix Energy Solutions Group Company Profile

Helix Energy Solutions Group, Inc NYSE: HLX is a Houston-based provider of offshore well intervention and robotics services to the global energy industry. The company specializes in extending the productive life of subsea wells through hydraulic workover systems, coiled tubing operations and riser-based wireline services. In addition, Helix offers remotely operated vehicle (ROV) support, inspection, maintenance and repair for subsea infrastructure.

Operating through three core business segments—Well Intervention, Robotics & Subsea Services and Production Facilities—Helix deploys purpose-built vessels, specialized equipment and engineering expertise to execute complex offshore projects.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.