Investing in Helix Energy Solutions Group Inc. (HLX) Is Getting More Attractive


Helix Energy Solutions Group Inc.’s recent filing unveils that its EVP and COO Sparks Scott Andrew unloaded Company’s shares for reported $0.18 million on Oct 31. In the deal valued at $6.93 per share,26,000 shares were sold. As a result of this transaction, Sparks Scott Andrew now holds 254,870 shares worth roughly $ 2.13 million.

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BTIG Research upgraded its Helix Energy Solutions Group Inc. [HLX] rating to a Buy from a a Neutral in a research note published on Monday. PT values the company’s stock at a premium of 16.3 to its Monday closing price. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who increased its forecast for the stock in late July from “an In-line” to “an Outperform”. Piper Sandler also remained covering HLX and has increased its forecast on February 01, 2022 with a “an Overweight” recommendation from previously “Neutral” rating. Piper Sandler revised its rating on July 28, 2021. It rated HLX as “a Neutral” which previously was an “an Overweight”.

Price Performance Review of HLX

On Monday, Helix Energy Solutions Group Inc. [NYSE:HLX] saw its stock jump 1.95% to $8.37. On the same session, the stock had its day’s lowest price of $8.15, but rose to a high of $8.528. Over the last five days, the stock has gained 9.84%. Helix Energy Solutions Group Inc. shares have risen nearly 13.41% since the year began. Nevertheless, the stocks have risen 110.30% over the past one year. While a 52-week high of $9.16 was reached on 02/21/23, a 52-week low of $2.47 was recorded on 01/03/23. SMA at 50 days reached $7.55, while 200 days put it at $5.30. A total of 1.68 million shares were traded, compared to the trading of 1.67 million shares in the previous session.

Levels Of Support And Resistance For HLX Stock

The 24-hour chart illustrates a support level at 8.17, which if violated will result in even more drops to 7.97. On the upside, there is a resistance level at 8.55. A further resistance level may holdings at 8.73. The Relative Strength Index (RSI) on the 14-day chart is 58.61, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.19, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 49.07%. Stochastics %K at 43.07% indicates the stock is a holding.

How much short interest is there in Helix Energy Solutions Group Inc.?

A steep rise in short interest was recorded in Helix Energy Solutions Group Inc. stocks on Jan 30, 2023, growing by 1.38 million shares to a total of 7.44 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 6.06 million shares. There was a rise of 18.55%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.28% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.71.

Helix Energy Solutions Group Inc. [HLX] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 23,286,089 shares, or roughly 15.34% of the outstanding HLX shares. In other words, the investor’s shares have risen by 158,244 from its previous 13-F filing of 23127845.0. Additionally, The Vanguard Group, Inc. increased 2.68% of its stake after which the total value it holdings stand at $104,744,563, while Dimensional Fund Advisors LP added 2.06% of its stake to hold $63.22 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -83,998 shares of Helix Energy Solutions Group Inc., while Millennium Management LLC sold 3,075,062 shares. At present, Van Eck Associates Corp. is holding 4,633,767 shares valued at $36.75 million. Invesco Capital Management LLC owned 3,681,082 shares of the company at the time of its most recent 13F filing, worth $29.19 million.

According to FactSet, Helix Energy Solutions Group Inc.’s share price will average $10.60 in the next year, based on opinions of analysts polled by the firm. This is up nearly 33.98 percent from its previous closing price of $8.21. Analysts expect Helix Energy Solutions Group Inc. stock to reach the higher price of $12.00, while the lowest price estimate is $7.00. However, 6 analysts have rated HLX stock as an Overweight in their predictions for 2023.


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