Hercules Offshore Sees Significant Drop in Short Interest (HERO)
Hercules Offshore (NASDAQ:HERO) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 14,695,554 shares, a decrease of 15.7% from the April 30th total of 17,428,215 shares, AR Network reports. Based on an average daily volume of 4,549,638 shares, the days-to-cover ratio is presently 3.2 days. Approximately 9.5% of the shares of the stock are sold short.
A number of analysts have recently weighed in on HERO shares. Analysts at Jefferies Group reiterated a “hold” rating on shares of Hercules Offshore in a research note on Thursday, April 24th. They now have a $5.00 price target on the stock. Separately, analysts at Howard Weil cut their price target on shares of Hercules Offshore from $11.00 to $8.00 in a research note on Thursday, April 24th. They now have a “sector outperform” rating on the stock. Finally, analysts at Credit Suisse downgraded shares of Hercules Offshore to a “neutral” rating in a research note on Tuesday, March 25th. They now have a $5.00 price target on the stock, down previously from $7.00. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $7.22.
Shares of Hercules Offshore (NASDAQ:HERO) opened at 4.43 on Tuesday. Hercules Offshore has a 52 week low of $4.21 and a 52 week high of $7.96. The stock’s 50-day moving average is $4.44 and its 200-day moving average is $5.. The company’s market cap is $711.6 million.
Hercules Offshore (NASDAQ:HERO) last announced its earnings results on Wednesday, April 23rd. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.14 by $0.02. The company had revenue of $256.73 million for the quarter, compared to the consensus estimate of $263.82 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The company’s quarterly revenue was up 37.9% on a year-over-year basis. On average, analysts predict that Hercules Offshore will post $0.55 earnings per share for the current fiscal year.
Hercules Offshore, Inc (NASDAQ:HERO) provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry globally.
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