Helix Energy Solutions Group (NYSE:HLX) Trading Down 6.3% – Should You Sell?

Helix Energy Solutions Group, Inc. (NYSE:HLX)’s stock price was down 6.3% during trading on Wednesday . The stock traded as low as $9.48 and last traded at $9.4750. Approximately 632,023 shares changed hands during trading, a decline of 69% from the average daily volume of 2,014,643 shares. The stock had previously closed at $10.11.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HLX shares. TD Cowen upped their price objective on shares of Helix Energy Solutions Group from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Weiss Ratings downgraded shares of Helix Energy Solutions Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Helix Energy Solutions Group currently has a consensus rating of “Hold” and a consensus price target of $11.50.

Helix Energy Solutions Group Stock Down 5.9%

The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $9.80 and its 200 day simple moving average is $8.32. The firm has a market capitalization of $1.40 billion, a PE ratio of 95.15 and a beta of 1.16.

Helix Energy Solutions Group (NYSE:HLX) last issued its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). Helix Energy Solutions Group had a net margin of 1.10% and a return on equity of 1.82%. The business had revenue of $287.95 million during the quarter, compared to analyst estimates of $260.89 million. Helix Energy Solutions Group’s revenue for the quarter was up 3.6% compared to the same quarter last year. Analysts anticipate that Helix Energy Solutions Group, Inc. will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Helix Energy Solutions Group

A number of institutional investors and hedge funds have recently made changes to their positions in HLX. Quarry LP bought a new position in shares of Helix Energy Solutions Group during the fourth quarter valued at approximately $27,000. Royal Bank of Canada increased its stake in shares of Helix Energy Solutions Group by 175.9% during the fourth 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 in the last quarter. Drucker Wealth 3.0 LLC bought a new position in shares of Helix Energy Solutions Group during the third quarter valued at approximately $66,000. Ballentine Partners LLC bought a new position in shares of Helix Energy Solutions Group during the third quarter valued at approximately $70,000. Finally, Federated Hermes Inc. bought a new position in shares of Helix Energy Solutions Group during the third quarter valued at approximately $74,000. Institutional investors 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.