Helix Energy Solutions Group, Inc. (NYSE:HLX) Sees Large Growth in Short Interest

Helix Energy Solutions Group, Inc. (NYSE:HLX) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 3,730,000 shares, a growth of 11.3% from the May 31st total of 3,350,000 shares. Based on an average daily trading volume, of 1,740,000 shares, the days-to-cover ratio is presently 2.1 days. Currently, 2.6% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, TD Cowen increased their target price on shares of Helix Energy Solutions Group from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th.

Helix Energy Solutions Group Trading Up 0.5 %

Shares of Helix Energy Solutions Group stock traded up $0.06 on Wednesday, reaching $12.07. 864,006 shares of the company’s stock were exchanged, compared to its average volume of 1,791,386. The company has a market capitalization of $1.84 billion, a P/E ratio of -57.21 and a beta of 2.45. Helix Energy Solutions Group has a 52 week low of $7.24 and a 52 week high of $12.29. The firm’s 50-day moving average is $11.12 and its two-hundred day moving average is $10.47. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.74 and a current ratio of 1.74.

Helix Energy Solutions Group (NYSE:HLX) last posted its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). The business had revenue of $296.21 million for the quarter, compared to the consensus estimate of $303.00 million. Helix Energy Solutions Group had a positive return on equity of 3.22% and a negative net margin of 2.39%. Sell-side analysts predict that Helix Energy Solutions Group will post 0.39 EPS for the current fiscal year.

Insider Activity

In other news, Director Diana Glassman sold 2,864 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $10.49, for a total value of $30,043.36. Following the completion of the transaction, the director now owns 42,133 shares of the company’s stock, valued at $441,975.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Helix Energy Solutions Group news, CEO Owen E. Kratz sold 141,879 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $11.83, for a total transaction of $1,678,428.57. Following the completion of the sale, the chief executive officer now owns 7,643,646 shares of the company’s stock, valued at approximately $90,424,332.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diana Glassman sold 2,864 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $10.49, for a total transaction of $30,043.36. Following the sale, the director now directly owns 42,133 shares of the company’s stock, valued at approximately $441,975.17. The disclosure for this sale can be found here. Insiders sold 164,264 shares of company stock valued at $1,932,544 over the last quarter. 6.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Helix Energy Solutions Group

A number of institutional investors and hedge funds have recently modified their holdings of HLX. GAMMA Investing LLC lifted its holdings in shares of Helix Energy Solutions Group by 24.0% in the 2nd quarter. GAMMA Investing LLC now owns 6,379 shares of the oil and gas company’s stock worth $76,000 after purchasing an additional 1,236 shares in the last quarter. Ancora Advisors LLC lifted its holdings in shares of Helix Energy Solutions Group by 35.7% in the 1st quarter. Ancora Advisors LLC now owns 392,807 shares of the oil and gas company’s stock worth $4,258,000 after purchasing an additional 103,430 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Helix Energy Solutions Group by 4.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 175,075 shares of the oil and gas company’s stock worth $1,899,000 after purchasing an additional 6,871 shares in the last quarter. MQS Management LLC bought a new position in shares of Helix Energy Solutions Group in the 1st quarter worth $282,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Helix Energy Solutions Group by 35.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 236,168 shares of the oil and gas company’s stock worth $2,560,000 after purchasing an additional 61,963 shares in the last quarter. 91.33% of the stock is currently owned by institutional investors.

About Helix Energy Solutions Group

Helix Energy Solutions Group, Inc, together with its subsidiaries, an offshore energy services company, provides specialty services to the offshore energy industry in Brazil, the Gulf of Mexico, the East Coast of the United States, North Sea, the Asia Pacific, and West Africa regions. The company operates through four segments: Well Intervention, Robotics, Production Facilities, and Shallow Water Abandonment segments.