HC2 (NYSE:HCHC) Upgraded to Buy by ValuEngine

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HC2 (NYSE:HCHC) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Tuesday, ValuEngine reports.

Separately, Zacks Investment Research cut shares of HC2 from a “buy” rating to a “hold” rating in a report on Thursday, November 7th.

HC2 stock opened at $2.06 on Tuesday. The stock has a market cap of $98.30 million, a P/E ratio of -2.51 and a beta of 1.31. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 1.64. HC2 has a twelve month low of $1.90 and a twelve month high of $3.76. The company’s 50-day moving average price is $2.20 and its two-hundred day moving average price is $2.26.

HC2 (NYSE:HCHC) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.07. The firm had revenue of $475.70 million for the quarter, compared to analysts’ expectations of $510.78 million. HC2 had a negative net margin of 0.61% and a negative return on equity of 5.04%. Equities analysts anticipate that HC2 will post -0.25 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new position in HC2 in the 3rd quarter valued at about $52,000. Morgan Stanley raised its holdings in HC2 by 31.6% in the 2nd quarter. Morgan Stanley now owns 25,612 shares of the technology company’s stock valued at $60,000 after acquiring an additional 6,150 shares during the period. A.R.T. Advisors LLC bought a new position in HC2 in the 2nd quarter valued at about $71,000. Ardsley Advisory Partners LP bought a new position in shares of HC2 during the second quarter worth approximately $119,000. Finally, Man Group plc bought a new position in shares of HC2 during the second quarter worth approximately $122,000. 50.55% of the stock is currently owned by hedge funds and other institutional investors.

HC2 Company Profile

HC2 Holdings, Inc provides construction, marine services, energy, telecommunications, insurance, life sciences, broadcasting, and other services in the United States, the United Kingdom, and internationally. The company models, details, fabricates, and erects structural steel for commercial and industrial, and infrastructure construction projects, including building and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, and power plants.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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