Helix Energy Solutions Group (NYSE:HLX) Sets New 12-Month Low – Should You Sell?

Helix Energy Solutions Group, Inc. (NYSE:HLX)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $7.76 and last traded at $7.92, with a volume of 1377293 shares changing hands. The stock had previously closed at $8.02.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HLX. BTIG Research lowered shares of Helix Energy Solutions Group from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. TD Cowen cut their target price on shares of Helix Energy Solutions Group from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th.

Helix Energy Solutions Group Stock Performance

The firm has a market capitalization of $1.26 billion, a P/E ratio of 207.18 and a beta of 2.43. The company’s 50 day moving average is $9.22 and its 200-day moving average is $10.05. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.19.

Insider Buying and Selling at Helix Energy Solutions Group

In related news, COO Scott Andrew Sparks sold 170,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $9.87, for a total transaction of $1,677,900.00. Following the completion of the sale, the chief operating officer now owns 112,634 shares in the company, valued at approximately $1,111,697.58. This trade represents a 60.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kenneth English Neikirk sold 83,991 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $9.17, for a total transaction of $770,197.47. Following the sale, the executive vice president now owns 104,549 shares of the company’s stock, valued at $958,714.33. This trade represents a 44.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 269,991 shares of company stock valued at $2,607,137. Corporate insiders own 6.37% of the company’s stock.

Hedge Funds Weigh In On Helix Energy Solutions Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HLX. Assetmark Inc. bought a new position in shares of Helix Energy Solutions Group in the third quarter valued at approximately $33,000. Smartleaf Asset Management LLC boosted its position in shares of Helix Energy Solutions Group by 143.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,930 shares of the oil and gas company’s stock valued at $45,000 after acquiring an additional 2,902 shares during the period. Millburn Ridgefield Corp bought a new stake in Helix Energy Solutions Group during the third quarter valued at approximately $61,000. GAMMA Investing LLC lifted its position in Helix Energy Solutions Group by 21.1% during the third quarter. GAMMA Investing LLC now owns 7,722 shares of the oil and gas company’s stock valued at $86,000 after purchasing an additional 1,343 shares during the last quarter. Finally, KBC Group NV lifted its position in Helix Energy Solutions Group by 61.8% during the fourth quarter. KBC Group NV now owns 9,136 shares of the oil and gas company’s stock valued at $85,000 after purchasing an additional 3,491 shares during the last quarter. Institutional investors own 91.33% of the company’s stock.

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.