Zacks Investment Research downgraded shares of HC2 Holdings Inc (NASDAQ:HCHC) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “HC2 Holdings Inc. is an integrated facilities-based communications services provider. The Company offers international and domestic voice, voice-over-Internet protocol (VOIP), Internet, wireless, data and hosting services to business and residential retail customers and other carriers located in North America, Australia, and Europe. HC2 Holdings, Inc., formerly known as PTGi Holding Inc., is headquartered in Herndon, Virginia. “

Separately, B. Riley reiterated a buy rating and set a $9.00 price target on shares of HC2 Holdings in a research note on Sunday, August 14th.

Shares of HC2 Holdings (NASDAQ:HCHC) opened at 5.58 on Tuesday. HC2 Holdings has a 12-month low of $3.25 and a 12-month high of $7.97. The firm’s market cap is $197.73 million. The firm has a 50-day moving average price of $4.97 and a 200 day moving average price of $4.37.

HC2 Holdings (NASDAQ:HCHC) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $359.30 million for the quarter, compared to the consensus estimate of $280.98 million. On average, equities research analysts anticipate that HC2 Holdings will post ($1.17) earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of HCHC. Nomura Holdings Inc. boosted its position in HC2 Holdings by 100.0% in the second quarter. Nomura Holdings Inc. now owns 239,580 shares of the company’s stock valued at $1,030,000 after buying an additional 119,790 shares in the last quarter. Wingspan Investment Management LP acquired a new position in HC2 Holdings during the second quarter valued at $6,289,000. Finally, Bridgeway Capital Management Inc. boosted its position in HC2 Holdings by 29.9% in the second quarter. Bridgeway Capital Management Inc. now owns 393,029 shares of the company’s stock valued at $1,690,000 after buying an additional 90,429 shares in the last quarter.

5 Day Chart for NASDAQ:HCHC

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