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

Shares of Helix Energy Solutions Group, Inc. (NYSE:HLX) dropped 6.3% during trading on Wednesday . The company traded as low as $9.48 and last traded at $9.4750. Approximately 632,023 shares changed hands during mid-day 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 Analysts Forecast Growth

HLX has been the topic of several analyst reports. Weiss Ratings lowered shares of Helix Energy Solutions Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 27th. TD Cowen upped their price target on shares of Helix Energy Solutions Group from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Helix Energy Solutions Group currently has a consensus rating of “Hold” and a consensus target price of $11.50.

Helix Energy Solutions Group Price Performance

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 50 day moving average is $9.80 and its 200 day moving average is $8.36. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 93.62 and a beta of 1.16.

Helix Energy Solutions Group (NYSE:HLX) last released its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.09) EPS for the quarter, meeting 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 for the quarter, compared to the consensus estimate of $260.89 million. Helix Energy Solutions Group’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Helix Energy Solutions Group, Inc. will post 0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new position in Helix Energy Solutions Group during the 4th quarter worth approximately $27,000. Royal Bank of Canada lifted its stake in Helix Energy Solutions Group by 175.9% during the 4th quarter. Royal Bank of Canada now owns 6,993 shares of the oil and gas company’s stock valued at $44,000 after acquiring an additional 4,458 shares in the last quarter. Drucker Wealth 3.0 LLC bought a new position in Helix Energy Solutions Group during the 3rd quarter valued at $66,000. Ballentine Partners LLC bought a new position in Helix Energy Solutions Group during the 3rd quarter valued at $70,000. Finally, Federated Hermes Inc. bought a new position in Helix Energy Solutions Group during the 3rd quarter valued at $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.