Helix Energy Solutions Group (NYSE:HLX) Hits New 52-Week High – Here’s Why

Helix Energy Solutions Group, Inc. (NYSE:HLX)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $8.92 and last traded at $8.7350, with a volume of 117549 shares changing hands. The stock had previously closed at $8.85.

Wall Street Analysts Forecast Growth

HLX has been the topic of a number of analyst reports. Zacks Research upgraded shares of Helix Energy Solutions Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Helix Energy Solutions Group in a research note on Monday, December 29th. TD Cowen restated a “buy” rating on shares of Helix Energy Solutions Group in a report on Friday, October 24th. Finally, Wall Street Zen upgraded Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.50.

Helix Energy Solutions Group Stock Performance

The company has a 50-day simple moving average of $7.24 and a two-hundred day simple moving average of $6.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.54 and a current ratio of 2.54. The firm has a market capitalization of $1.27 billion, a P/E ratio of 30.80 and a beta of 1.25.

Institutional Trading of Helix Energy Solutions Group

A number of hedge funds and other institutional investors have recently modified their holdings of HLX. Quarry LP purchased a new position in Helix Energy Solutions Group during the 4th quarter valued at about $27,000. Bessemer Group Inc. boosted its position in shares of Helix Energy Solutions Group by 243.4% in 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. AlphaQuest LLC grew its stake in shares of Helix Energy Solutions Group by 49.3% in the 2nd quarter. AlphaQuest LLC now owns 8,877 shares of the oil and gas company’s stock worth $55,000 after buying an additional 2,930 shares during the last quarter. Drucker Wealth 3.0 LLC bought a new position in Helix Energy Solutions Group during the 3rd quarter valued at approximately $66,000. Finally, Ballentine Partners LLC purchased a new position in Helix Energy Solutions Group during the third quarter valued at $70,000. 91.33% of the stock is owned by hedge funds and other institutional investors.

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.