Hercules Offshore Short Interest Up 15.0% in June (HERO)
Shares of Hercules Offshore (NASDAQ:HERO) were the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 18,245,377 shares, a growth of 15.0% from the June 13th total of 15,870,603 shares, Stock Ratings News reports. Based on an average trading volume of 7,974,589 shares, the short-interest ratio is currently 2.3 days. Approximately 11.8% of the company’s stock are short sold.
A number of analysts have recently weighed in on HERO shares. Analysts at Goldman Sachs raised their price target on shares of Hercules Offshore from $3.60 to $3.85 in a research note on Thursday, July 10th. Separately, 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. Finally, 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. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $6.64.
Hercules Offshore (NASDAQ:HERO) opened at 4.04 on Wednesday. Hercules Offshore has a one year low of $3.90 and a one year high of $7.96. The stock has a 50-day moving average of $4.36 and a 200-day moving average of $4.71. The company’s market cap is $649.0 million.
Hercules Offshore (NASDAQ:HERO) last announced its earnings results on Wednesday, April 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, analysts predict that Hercules Offshore will post $0.39 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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