Short Interest in Helix Energy Solutions Group, Inc. (NYSE:HLX) Drops By 15.1%

Key Points

• Short interest in Helix fell 15.1% in March to 5,030,795 shares, equal to about 3.7% of the stock and a days-to-cover ratio of 2.6.
• Institutional investors own roughly 91.33% of the company, and analysts carry a consensus “Moderate Buy” rating with an average target price of $10.50 (two Buys, two Holds).
• Helix beat the quarter with EPS of $0.06 (vs. -$0.02) and revenue of $334.2M (vs. $304.7M) though revenue was down 5.9% YoY, and the stock recently traded down 3.5% to $9.14 (market cap ~ $1.35B).

Helix Energy Solutions Group, Inc. (NYSE:HLX - Get Free Report) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totaling 5,030,795 shares, a decrease of 15.1% from the March 15th total of 5,924,476 shares. Based on an average trading volume of 1,906,400 shares, the days-to-cover ratio is currently 2.6 days. Currently, 3.7% of the shares of the stock are short sold.

Hedge Funds Weigh In On Helix Energy Solutions Group

Large investors have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of Helix Energy Solutions Group in the 4th quarter valued at about $27,000. Royal Bank of Canada increased its holdings in shares of Helix Energy Solutions Group by 175.9% in the 4th quarter. Royal Bank of Canada now owns 6,993 shares of the oil and gas company's stock valued at $44,000 after purchasing an additional 4,458 shares during the period. Drucker Wealth 3.0 LLC acquired a new position in shares of Helix Energy Solutions Group in the 3rd quarter valued at about $66,000. Ballentine Partners LLC acquired a new position in shares of Helix Energy Solutions Group in the 3rd quarter valued at about $70,000. Finally, Federated Hermes Inc. acquired a new position in shares of Helix Energy Solutions Group in the 3rd quarter valued at about $74,000. Institutional investors and hedge funds own 91.33% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Helix Energy Solutions Group in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $10.50.

Helix Energy Solutions Group Trading Down 3.5%

NYSE HLX traded down $0.33 on Friday, hitting $9.14. 1,658,302 shares of the company were exchanged, compared to its average volume of 1,995,436. The company's 50 day moving average price is $9.30 and its 200-day moving average price is $7.69. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 2.75. The firm has a market capitalization of $1.35 billion, a P/E ratio of 43.54 and a beta of 1.15. Helix Energy Solutions Group has a twelve month low of $5.52 and a twelve month high of $10.75.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) last issued its earnings results on Monday, February 23rd. The oil and gas company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.08. The company had revenue of $334.16 million for the quarter, compared to the consensus estimate of $304.67 million. Helix Energy Solutions Group had a return on equity of 2.88% and a net margin of 2.39%.The business's quarterly revenue was down 5.9% compared to the same quarter last year. Analysts predict that Helix Energy Solutions Group will post 0.26 earnings per share for the current fiscal year.

About Helix Energy Solutions Group

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.

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