Short Interest in Helix Energy Solutions Group, Inc. (NYSE:HLX) Increases By 16.4%

Helix Energy Solutions Group, Inc. (NYSE:HLX) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 6,610,000 shares, a growth of 16.4% from the October 15th total of 5,680,000 shares. Approximately 4.6% of the company’s stock are sold short. Based on an average trading volume of 1,910,000 shares, the days-to-cover ratio is currently 3.5 days.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 2nd. Raymond James initiated coverage on shares of Helix Energy Solutions Group in a report on Thursday, September 19th. They issued a “strong-buy” rating and a $14.00 target price on the stock. BTIG Research downgraded shares of Helix Energy Solutions Group from a “buy” rating to a “neutral” rating in a research report on Thursday, October 24th. Finally, TD Cowen decreased their target price on shares of Helix Energy Solutions Group from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, October 25th.

Insider Buying and Selling

In other news, CEO Owen E. Kratz sold 298,419 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $11.92, for a total transaction of $3,557,154.48. Following the completion of the transaction, the chief executive officer now directly owns 7,171,860 shares of the company’s stock, valued at approximately $85,488,571.20. This represents a 3.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Helix Energy Solutions Group

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its stake in shares of Helix Energy Solutions Group by 10.4% in the 2nd quarter. CWM LLC now owns 9,043 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 850 shares in the last quarter. Diversified Trust Co raised its holdings in Helix Energy Solutions Group by 2.1% in the third quarter. Diversified Trust Co now owns 49,348 shares of the oil and gas company’s stock valued at $548,000 after acquiring an additional 1,005 shares in the last quarter. Arizona State Retirement System grew its stake in Helix Energy Solutions Group by 3.0% in the second quarter. Arizona State Retirement System now owns 40,535 shares of the oil and gas company’s stock worth $484,000 after purchasing an additional 1,187 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Helix Energy Solutions Group by 24.0% during the 2nd quarter. GAMMA Investing LLC now owns 6,379 shares of the oil and gas company’s stock valued at $76,000 after acquiring an additional 1,236 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its stake in Helix Energy Solutions Group by 10.2% during the first quarter. Bleakley Financial Group LLC now owns 15,039 shares of the oil and gas company’s stock worth $163,000 after acquiring an additional 1,391 shares during the period. 91.33% of the stock is currently owned by institutional investors and hedge funds.

Helix Energy Solutions Group Stock Performance

HLX traded down $0.36 during trading on Friday, reaching $9.95. The company’s stock had a trading volume of 1,137,718 shares, compared to its average volume of 1,824,366. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.29 and a current ratio of 2.29. The company’s fifty day moving average price is $10.10 and its 200-day moving average price is $10.83. Helix Energy Solutions Group has a 52-week low of $8.82 and a 52-week high of $13.05. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 248.81 and a beta of 2.43.

Helix Energy Solutions Group (NYSE:HLX) last posted its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $342.42 million for the quarter, compared to the consensus estimate of $354.74 million. Helix Energy Solutions Group had a return on equity of 4.39% and a net margin of 0.54%. During the same period in the previous year, the business earned $0.19 earnings per share. On average, equities analysts forecast that Helix Energy Solutions Group will post 0.29 earnings per share for the current fiscal year.

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.