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Stock analysts at Goldman Sachs hoisted their price target on shares of Hercules Offshore (NASDAQ:HERO) from $3.60 to $3.85 in a report issued on Thursday. Goldman Sachs’ price target suggests a potential downside of 4.47% from the stock’s previous close.

Hercules Offshore (NASDAQ:HERO) traded down 0.74% on Thursday, hitting $4.03. 3,758,379 shares of the company’s stock traded hands. Hercules Offshore has a 1-year low of $3.90 and a 1-year high of $7.96. The stock has a 50-day moving average of $4.40 and a 200-day moving average of $4.7. The company’s market cap is $647.4 million. Hercules Offshore also saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 18,245,377 shares, an increase of 15.0% from the June 13th total of 15,870,603 shares. Currently, 11.8% of the company’s shares are sold short. Based on an average daily trading volume, of 7,974,589 shares, the short-interest ratio is currently 2.3 days.

Hercules Offshore (NASDAQ:HERO) last posted its quarterly 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 $0.42 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Iberia Capital downgraded shares of Hercules Offshore from an “outperform” rating to a “sector perform” rating in a research note on Friday, June 20th. Separately, analysts at Cowen and Company cut their price target on shares of Hercules Offshore from $7.00 to $6.50 in a research note on Friday, June 20th. They now have an “outperform” rating on the stock. Finally, analysts at Macquarie initiated coverage on shares of Hercules Offshore in a research note on Wednesday, June 4th. They set an “outperform” rating and a $6.00 price target on the stock. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $6.64.

In other Hercules Offshore news, Director Steven A. Webster purchased 150,000 shares of Hercules Offshore stock on the open market in a transaction dated Monday, June 30th. The stock was purchased at an average price of $4.02 per share, with a total value of $603,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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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