Helix Energy Solutions Group (NYSE:HLX) Reaches New 52-Week Low – Time to Sell?

Shares of Helix Energy Solutions Group, Inc. (NYSE:HLX) reached a new 52-week low during trading on Tuesday . The stock traded as low as $7.76 and last traded at $7.92, with a volume of 1377293 shares. The stock had previously closed at $8.02.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HLX. StockNews.com raised Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th. BTIG Research cut shares of Helix Energy Solutions Group from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. Finally, TD Cowen lowered their price target on shares of Helix Energy Solutions Group from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, October 25th.

Helix Energy Solutions Group Stock Down 1.3 %

The business’s fifty day moving average price is $9.32 and its two-hundred day moving average price is $10.09. 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 firm has a market capitalization of $1.20 billion, a P/E ratio of 197.92 and a beta of 2.43.

Insiders Place Their Bets

In related news, COO Scott Andrew Sparks sold 170,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $9.87, for a total value of $1,677,900.00. Following the transaction, the chief operating officer now directly owns 112,634 shares of the company’s stock, valued at $1,111,697.58. This represents a 60.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kenneth English Neikirk sold 83,991 shares of Helix Energy Solutions Group stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $9.17, for a total value of $770,197.47. Following the sale, the executive vice president now directly owns 104,549 shares of the company’s stock, valued at approximately $958,714.33. This 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. 6.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Helix Energy Solutions Group

A number of institutional investors and hedge funds have recently modified their holdings of HLX. State Street Corp increased its holdings in Helix Energy Solutions Group by 3.8% in the 3rd quarter. State Street Corp now owns 6,664,257 shares of the oil and gas company’s stock worth $73,973,000 after buying an additional 246,577 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Helix Energy Solutions Group by 16.4% in the 4th quarter. Pacer Advisors Inc. now owns 6,546,820 shares of the oil and gas company’s stock valued at $61,016,000 after acquiring an additional 923,477 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Helix Energy Solutions Group by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,286,917 shares of the oil and gas company’s stock worth $36,492,000 after acquiring an additional 25,432 shares during the period. Systematic Financial Management LP raised its holdings in shares of Helix Energy Solutions Group by 10.5% during the third quarter. Systematic Financial Management LP now owns 2,480,765 shares of the oil and gas company’s stock worth $27,536,000 after purchasing an additional 236,222 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Helix Energy Solutions Group by 18.3% during the fourth quarter. Principal Financial Group Inc. now owns 2,443,203 shares of the oil and gas company’s stock valued at $22,771,000 after purchasing an additional 378,394 shares during the period. Institutional investors and hedge funds 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.