Helix Energy Solutions Group (NYSE:HLX) Sets New 52-Week Low - What's Next?

Helix Energy Solutions Group, Inc. (NYSE:HLX - Get Free Report) shares 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.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HLX. BTIG Research cut Helix Energy Solutions Group from a "buy" rating to a "neutral" rating in a report on Thursday, October 24th. TD Cowen reduced 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 note on Friday, October 25th. Finally, StockNews.com raised shares of Helix Energy Solutions Group from a "sell" rating to a "hold" rating in a research note on Wednesday, December 4th.

Helix Energy Solutions Group Trading Down 0.1 %

The business has a 50 day moving average of $9.17 and a 200 day moving average of $10.04. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 200.30 and a beta of 2.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.29 and a quick ratio of 2.29.

Insiders Place Their Bets

In related news, EVP Kenneth English Neikirk sold 83,991 shares of the firm's stock in a transaction on 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 approximately $958,714.33. This trade represents a 44.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Scott Andrew Sparks sold 170,000 shares of Helix Energy Solutions Group stock in a transaction dated 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 owns 112,634 shares in the company, valued at approximately $1,111,697.58. This represents a 60.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 269,991 shares of company stock worth $2,607,137. Insiders own 6.37% of the company's stock.

Institutional Trading of Helix Energy Solutions Group

Hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its position in shares of Helix Energy Solutions Group by 3.8% during the third 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. lifted its stake in 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 in the last quarter. Geode Capital Management LLC boosted its position in Helix Energy Solutions Group by 0.8% during the 3rd 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 last quarter. Systematic Financial Management LP grew its stake in shares of Helix Energy Solutions Group by 10.5% during the 3rd quarter. Systematic Financial Management LP now owns 2,480,765 shares of the oil and gas company's stock worth $27,536,000 after acquiring an additional 236,222 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Helix Energy Solutions Group by 18.3% in 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 last quarter. 91.33% of the stock is currently owned by institutional investors and hedge funds.

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.