HC2 Holdings Inc (HCHC) PT Set at $10.00 by B. Riley
HC2 Holdings Inc (NASDAQ:HCHC) has been assigned a $10.00 price target by B. Riley in a research note issued on Monday. The brokerage currently has a “buy” rating on the technology company’s stock. B. Riley’s price target would suggest a potential upside of 84.16% from the company’s current price.
Separately, Zacks Investment Research raised HC2 Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th.
Shares of HC2 Holdings (HCHC) traded down 2.76% during midday trading on Monday, hitting $5.28. The company had a trading volume of 69,583 shares. HC2 Holdings has a 12 month low of $3.80 and a 12 month high of $7.27. The firm’s market capitalization is $227.10 million. The company has a 50-day moving average of $5.02 and a 200 day moving average of $5.50.
HC2 Holdings (NASDAQ:HCHC) last released its earnings results on Wednesday, August 9th. The technology company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.17). The company had revenue of $378.65 million during the quarter, compared to analysts’ expectations of $424.16 million. On average, analysts expect that HC2 Holdings will post ($1.00) EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in HCHC. Bank of America Corp DE lifted its holdings in HC2 Holdings by 159.1% during the 1st quarter. Bank of America Corp DE now owns 17,065 shares of the technology company’s stock worth $106,000 after buying an additional 10,479 shares during the last quarter. SG Americas Securities LLC purchased a new stake in HC2 Holdings during the 1st quarter worth about $108,000. Voya Investment Management LLC lifted its holdings in HC2 Holdings by 29.2% during the 2nd quarter. Voya Investment Management LLC now owns 20,115 shares of the technology company’s stock worth $118,000 after buying an additional 4,546 shares during the last quarter. American International Group Inc. lifted its holdings in HC2 Holdings by 7.1% during the 1st quarter. American International Group Inc. now owns 20,563 shares of the technology company’s stock worth $127,000 after buying an additional 1,364 shares during the last quarter. Finally, Alliancebernstein L.P. purchased a new stake in HC2 Holdings during the 2nd quarter worth about $151,000.
About HC2 Holdings
HC2 Holdings, Inc engages in construction, marine services, insurance, telecommunications, energy, life sciences, and other businesses in the United States, the United Kingdom, and internationally. The company fabricates and erects structural steel for commercial and industrial construction projects, such as buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, and power plants.
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