Helix Energy Solutions Group (NYSE:HLX) Trading Down 4.8% - Here's What Happened

Key Points

• Helix Energy Solutions Group's stock price fell 4.8% to $6.24, with trading volume decreasing by 54% compared to the average session volume.
• Following recent performance analysis, analysts have set a new price target of $9.00, down from $10.00, while maintaining an "outperform" rating.
• Institutional investors currently hold 91.33% of Helix Energy Solutions Group's shares, with significant increases in holdings reported by various firms in recent quarters.

Shares of Helix Energy Solutions Group, Inc. (NYSE:HLX - Get Free Report) traded down 4.8% during mid-day trading on Friday . The company traded as low as $6.24 and last traded at $6.24. 793,186 shares changed hands during trading, a decline of 54% from the average session volume of 1,726,513 shares. The stock had previously closed at $6.55.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial restated an "outperform" rating and set a $9.00 price target (down previously from $10.00) on shares of Helix Energy Solutions Group in a report on Friday, July 25th. Wall Street Zen lowered shares of Helix Energy Solutions Group from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $12.00.

Helix Energy Solutions Group Trading Up 2.9%

The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The business's fifty day simple moving average is $6.21 and its two-hundred day simple moving average is $6.66. The stock has a market capitalization of $940.74 million, a P/E ratio of 19.44 and a beta of 1.65.

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

Hedge Funds Weigh In On Helix Energy Solutions Group

A number of hedge funds have recently made changes to their positions in HLX. Bessemer Group Inc. increased its position in shares of Helix Energy Solutions Group by 243.4% during the 2nd quarter. Bessemer Group Inc. now owns 5,045 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 3,576 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in Helix Energy Solutions Group during the 4th quarter valued at $34,000. AlphaQuest LLC increased its holdings in Helix Energy Solutions Group by 594,600.0% during the 1st quarter. AlphaQuest LLC now owns 5,947 shares of the oil and gas company's stock valued at $49,000 after purchasing an additional 5,946 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Helix Energy Solutions Group by 43.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 7,053 shares of the oil and gas company's stock valued at $59,000 after purchasing an additional 2,123 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Helix Energy Solutions Group during the second quarter worth $80,000. Institutional investors and hedge funds own 91.33% of the company's stock.

Helix Energy Solutions Group Company Profile

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.