Helios Technologies (NASDAQ:HLIO) Hits New 1-Year Low - Here's Why

Helios Technologies, Inc. (NASDAQ:HLIO - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $37.80 and last traded at $38.21, with a volume of 35684 shares changing hands. The stock had previously closed at $39.45.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus dropped their price target on Helios Technologies from $60.00 to $58.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th.

Helios Technologies Trading Down 0.3 %

The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 32.71 and a beta of 0.90. The business's fifty day moving average is $42.68 and its 200 day moving average is $45.88. The company has a quick ratio of 1.54, a current ratio of 3.03 and a debt-to-equity ratio of 0.52.

Helios Technologies announced that its board has approved a stock buyback plan on Monday, February 24th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Helios Technologies

Several hedge funds have recently made changes to their positions in the business. Stephens Inc. AR bought a new stake in Helios Technologies during the 3rd quarter worth about $205,000. Diamond Hill Capital Management Inc. acquired a new position in shares of Helios Technologies during the 3rd quarter worth approximately $13,633,000. Versor Investments LP acquired a new position in shares of Helios Technologies during the 3rd quarter worth approximately $253,000. Oppenheimer Asset Management Inc. raised its stake in shares of Helios Technologies by 23.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 30,808 shares of the company's stock worth $1,470,000 after purchasing an additional 5,760 shares in the last quarter. Finally, Royce & Associates LP boosted its holdings in shares of Helios Technologies by 34.1% in the 3rd quarter. Royce & Associates LP now owns 388,659 shares of the company's stock valued at $18,539,000 after buying an additional 98,900 shares during the last quarter. 94.72% of the stock is owned by institutional investors.

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Helios Technologies Company Profile

Helios Technologies, Inc, together with its subsidiaries, provides engineered motion control and electronic control technology solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Hydraulics and Electronics. The Hydraulics segment offers cartridge valve technology products to control rates and direction of fluid flow, and to regulate and control pressures for industrial and mobile applications; hydraulic quick release coupling solutions for the agriculture, construction equipment, and industrial markets; motion control technology and fluid conveyance technology; cartridge valve technology; engineered solutions for machine users, manufacturers, or designers.