What’s in Helix Energy Solutions Group Inc (HLX) After Forming Wedge Down?

July 17, 2017 - By Ellis Scott

The stock of Helix Energy Solutions Group Inc (HLX) formed a down wedge with $5.47 target or 5.00 % below today’s $5.76 share price. The 5 months wedge indicates high risk for the $875.05M company. If the $5.47 price target is reached, the company will be worth $43.75M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

About 556,437 shares traded. Helix Energy Solutions Group Inc (NYSE:HLX) has declined 16.48% since July 17, 2016 and is downtrending. It has underperformed by 33.18% the S&P500.

Wall Street await Helix Energy Solutions Group Inc (NYSE:HLX) to release earnings on July, 18. Analysts forecast earnings per share of $-0.01, up exactly $0.09 or 90.00 % from 2014’s $-0.1 EPS. After posting $-0.11 EPS for the previous quarter, Helix Energy Solutions Group Inc’s analysts now forecast -90.91 % EPS growth.

Helix Energy Solutions Group Inc (NYSE:HLX) Ratings Coverage

Among 8 analysts covering Helix Energy Solutions (NYSE:HLX), 7 have Buy rating, 1 Sell and 0 Hold. Therefore 88% are positive. Helix Energy Solutions had 21 analyst reports since July 22, 2015 according to SRatingsIntel. As per Friday, July 7, the company rating was maintained by Cowen & Co. TheStreet downgraded the stock to “Sell” rating in Friday, October 23 report. Cowen & Co upgraded Helix Energy Solutions Group Inc (NYSE:HLX) on Monday, June 5 to “Outperform” rating. As per Tuesday, July 26, the company rating was upgraded by Clarksons Platou. The rating was upgraded by Stephens to “Overweight” on Thursday, January 21. The firm has “Market Perform” rating by Cowen & Co given on Monday, September 21. Morgan Stanley upgraded Helix Energy Solutions Group Inc (NYSE:HLX) rating on Thursday, March 17. Morgan Stanley has “Overweight” rating and $10 target. The stock of Helix Energy Solutions Group Inc (NYSE:HLX) earned “Outperform” rating by Iberia Capital Partners on Wednesday, February 24. The stock of Helix Energy Solutions Group Inc (NYSE:HLX) earned “Outperform” rating by Cowen & Co on Tuesday, June 20. Credit Suisse upgraded the shares of HLX in report on Tuesday, April 12 to “Outperform” rating.

More notable recent Helix Energy Solutions Group Inc (NYSE:HLX) news were published by: Seekingalpha.com which released: “Helix Energy Solutions Group (HLX) Q4 2016 Results – Earnings Call Transcript” on February 21, 2017, also Streetinsider.com with their article: “Helix Energy Solutions Group (HLX) Promotes Erik Staffeldt to SVP & CFO” published on June 05, 2017, Fool.com published: “Here’s Why Helix Energy Solutions Group Inc Stock Sank Today” on April 24, 2017. More interesting news about Helix Energy Solutions Group Inc (NYSE:HLX) were released by: Streetinsider.com and their article: “Cowen Upgrades Helix Energy Solutions Group, Inc. (HLX) to Outperform, Top Pick” published on June 05, 2017 as well as Reuters.com‘s news article titled: “BRIEF-Helix Energy Solutions sees 2017 revenues of about $575 mln” with publication date: March 03, 2017.

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