Analysts Set $13.50 Price Target for HC2 Holdings Inc (HCHC)

Shares of HC2 Holdings Inc (NYSE:HCHC) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Brokerages have set a one year consensus target price of $13.50 for the company and are expecting that the company will post ($0.38) earnings per share for the current quarter, according to Zacks. Zacks has also given HC2 an industry rank of 204 out of 255 based on the ratings given to its competitors.

Several analysts have issued reports on the stock. ValuEngine upgraded shares of HC2 from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded shares of HC2 from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th.

Shares of HCHC stock traded up $0.01 during trading on Friday, reaching $5.66. 148,553 shares of the company’s stock traded hands, compared to its average volume of 191,619. The stock has a market capitalization of $273.61 million, a P/E ratio of -5.72 and a beta of 1.06. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 4.16. HC2 has a 1 year low of $4.78 and a 1 year high of $7.79.

HC2 (NYSE:HCHC) last posted its earnings results on Wednesday, August 8th. The technology company reported ($0.69) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.24). HC2 had a negative return on equity of 51.25% and a net margin of 0.32%. The firm had revenue of $496.78 million during the quarter, compared to analysts’ expectations of $454.23 million. On average, equities analysts predict that HC2 will post -2.22 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Roumell Asset Management LLC lifted its stake in HC2 by 600.2% in the 2nd quarter. Roumell Asset Management LLC now owns 295,255 shares of the technology company’s stock worth $1,727,000 after purchasing an additional 253,088 shares in the last quarter. CAPROCK Group Inc. raised its position in shares of HC2 by 7.1% during the 2nd quarter. CAPROCK Group Inc. now owns 150,000 shares of the technology company’s stock valued at $878,000 after buying an additional 10,000 shares in the last quarter. B. Riley Financial Inc. raised its position in shares of HC2 by 29.1% during the 2nd quarter. B. Riley Financial Inc. now owns 1,807,157 shares of the technology company’s stock valued at $10,571,000 after buying an additional 407,156 shares in the last quarter. PEAK6 Investments L.P. raised its position in shares of HC2 by 982.6% during the 2nd quarter. PEAK6 Investments L.P. now owns 30,896 shares of the technology company’s stock valued at $181,000 after buying an additional 28,042 shares in the last quarter. Finally, Ardsley Advisory Partners raised its position in shares of HC2 by 105.0% during the 2nd quarter. Ardsley Advisory Partners now owns 410,000 shares of the technology company’s stock valued at $2,403,000 after buying an additional 210,000 shares in the last quarter. Institutional investors and hedge funds own 56.41% of the company’s stock.

HC2 Company Profile

HC2 Holdings, Inc engages in the construction, marine services, energy, telecommunications, insurance, 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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