Helix Energy Solutions Group (NYSE:HLX) Shares Pass Above 200 Day Moving Average – Here’s Why

Helix Energy Solutions Group, Inc. (NYSE:HLX)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.63 and traded as high as $8.30. Helix Energy Solutions Group shares last traded at $8.0910, with a volume of 5,895,549 shares changing hands.

Analyst Ratings Changes

A number of research firms recently weighed in on HLX. Wall Street Zen upgraded shares of Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. TD Cowen reissued a “buy” rating on shares of Helix Energy Solutions Group in a research note on Friday, October 24th. Zacks Research upgraded Helix Energy Solutions Group from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Helix Energy Solutions Group in a research 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 stock. Based on data from MarketBeat.com, Helix Energy Solutions Group has an average rating of “Moderate Buy” and a consensus target price of $10.50.

Helix Energy Solutions Group Stock Performance

The company’s 50-day simple moving average is $7.06 and its 200 day simple moving average is $6.63. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.19 billion, a P/E ratio of 28.90 and a beta of 1.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC grew its stake in Helix Energy Solutions Group by 893.7% in the 3rd quarter. Millennium Management LLC now owns 4,025,701 shares of the oil and gas company’s stock valued at $26,409,000 after purchasing an additional 3,620,563 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Helix Energy Solutions Group by 109.8% in the 3rd quarter. Principal Financial Group Inc. now owns 4,804,147 shares of the oil and gas company’s stock worth $31,515,000 after buying an additional 2,514,402 shares during the last quarter. Invesco Ltd. grew its position in Helix Energy Solutions Group by 219.2% during the second quarter. Invesco Ltd. now owns 3,198,950 shares of the oil and gas company’s stock valued at $19,961,000 after buying an additional 2,196,916 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in Helix Energy Solutions Group during the second quarter worth about $10,296,000. Finally, Cerity Partners LLC bought a new stake in Helix Energy Solutions Group in the second quarter worth about $8,108,000. Hedge funds and other 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.