Hercules Offshore Sees Significant Growth in Short Interest (HERO)
Hercules Offshore (NASDAQ:HERO) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 26,522,989 shares, an increase of 30.2% from the July 15th total of 20,365,678 shares, Analyst RN reports. Approximately 17.1% of the shares of the company are short sold. Based on an average daily volume of 4,668,841 shares, the short-interest ratio is presently 5.7 days.
In other Hercules Offshore news, EVP James William Noe sold 75,000 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $3.58, for a total transaction of $268,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on HERO. Analysts at Global Hunter Securities raised their price target on shares of Hercules Offshore from $0.75 to $3.75 in a research note on Tuesday, August 5th. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Hercules Offshore in a research note on Thursday, July 24th. They now have a $6.00 price target on the stock, down previously from $7.00. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Hercules Offshore in a research note on Thursday, July 24th. They now have a $4.50 price target on the stock, down previously from $5.00. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Hercules Offshore has a consensus rating of “Buy” and an average price target of $6.10.
Hercules Offshore (NASDAQ:HERO) traded up 3.77% on Monday, hitting $3.30. The stock had a trading volume of 3,445,479 shares. Hercules Offshore has a 52-week low of $3.12 and a 52-week high of $7.85. The stock’s 50-day moving average is $3.82 and its 200-day moving average is $4.4. The company’s market cap is $530.6 million.
Hercules Offshore (NASDAQ:HERO) last announced its earnings results on Wednesday, July 23rd. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.02. The company had revenue of $243.00 million for the quarter, compared to the consensus estimate of $242.57 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, analysts predict that Hercules Offshore will post $0.25 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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