The stock of Hornbeck Offshore Services, Inc. (NYSE:HOS) reached all time low today, Nov, 3 and still has $2.95 target or 11.00% below today’s $3.32 share price. This indicates more downside for the $124.09 million company. This technical setup was reported by Barchart.com. If the $2.95 PT is reached, the company will be worth $13.65M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock decreased 15.95% or $0.63 on November 3, hitting $3.32. About 5.71 million shares traded hands or 396.52% up from the average. Hornbeck Offshore Services, Inc. (NYSE:HOS) has declined 56.97% since April 1, 2016 and is downtrending. It has underperformed by 58.19% the S&P500.
Hornbeck Offshore Services, Inc. (NYSE:HOS) Ratings Coverage
Out of 11 analysts covering Hornbeck Offshore (NYSE:HOS), 1 rate it a “Buy”, 2 “Sell”, while 8 “Hold”. This means 9% are positive. Hornbeck Offshore has been the topic of 18 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Cowen & Co downgraded Hornbeck Offshore Services, Inc. (NYSE:HOS) on Monday, January 11 to “Market Perform” rating. Clarkson Platou downgraded Hornbeck Offshore Services, Inc. (NYSE:HOS) on Tuesday, March 8 to “Sell” rating. As per Tuesday, February 23, the company rating was maintained by Barclays Capital. The stock of Hornbeck Offshore Services, Inc. (NYSE:HOS) earned “Neutral” rating by Clarckson Platou on Friday, May 13. Morgan Stanley upgraded the stock to “Equal-Weight” rating in Wednesday, April 20 report. The stock has “Underperform” rating given by Iberia Capital Partners on Friday, August 5. As per Wednesday, March 9, the company rating was downgraded by Stephens. The stock of Hornbeck Offshore Services, Inc. (NYSE:HOS) has “Sector Perform” rating given on Friday, October 30 by Iberia Capital Partners. On Wednesday, April 20 the stock rating was downgraded by Barclays Capital to “Equal-Weight”. The firm has “Sector Perform” rating given on Friday, October 30 by IBERIA Capital Partners.
According to Zacks Investment Research, “Hornbeck Offshore provides technologically advanced, new generation OSVs serving the offshore oil and gas industry, primarily in the U.S. Gulf of Mexico and in select international markets. The focus of their OSV business is on complex exploration and production activities, which include deepwater, deep well and other logistically demanding projects. They also transport petroleum products through their tug and tank barge segment serving the energy industry, primarily in the northeastern United States and Puerto Rico.”
Insitutional Activity: The institutional sentiment decreased to 0.85 in 2016 Q2. Its down 0.35, from 1.2 in 2016Q1. The ratio is negative, as 18 funds sold all Hornbeck Offshore Services, Inc. shares owned while 42 reduced positions. 11 funds bought stakes while 40 increased positions. They now own 36.16 million shares or 7.71% less from 39.18 million shares in 2016Q1.
Numeric Ltd Limited Liability Company holds 54,900 shares or 0% of its portfolio. Lsv Asset last reported 0% of its portfolio in the stock. Pinebridge Invests Lp reported 3,749 shares or 0% of all its holdings. Pleasant Lake Prtn Ltd Liability holds 0.47% of its portfolio in Hornbeck Offshore Services, Inc. (NYSE:HOS) for 42,000 shares. Moreover, Comerica State Bank has 0% invested in Hornbeck Offshore Services, Inc. (NYSE:HOS) for 32,134 shares. Blackrock Ltd, a United Kingdom-based fund reported 41,099 shares. Ig Mgmt Ltd holds 0.03% of its portfolio in Hornbeck Offshore Services, Inc. (NYSE:HOS) for 875,500 shares. Rhumbline Advisers holds 53,001 shares or 0% of its portfolio. Natl Bank Of New York Mellon last reported 0% of its portfolio in the stock. Citadel Advisors Ltd Liability accumulated 18,746 shares or 0% of the stock. Dc Cap Advsrs Ltd reported 500,000 shares or 2.44% of all its holdings. Moreover, Metropolitan Life Ny has 0% invested in Hornbeck Offshore Services, Inc. (NYSE:HOS) for 26,939 shares. Wells Fargo And Mn accumulated 56,612 shares or 0% of the stock. Manufacturers Life Ins The holds 0% or 23,562 shares in its portfolio. Eulav Asset Mgmt reported 66,200 shares or 0.03% of all its holdings.
More notable recent Hornbeck Offshore Services, Inc. (NYSE:HOS) news were published by: Seekingalpha.com which released: “Hornbeck Offshore Services To Review Strategic Options” on November 03, 2016, also Fool.com with their article: “Here’s Why Hornbeck Offshore Services, Tidewater Inc., and KNOT Offshore …” published on January 10, 2016, Seekingalpha.com published: “Hornbeck Offshore Services: Escaping Natural Elimination” on August 25, 2016. More interesting news about Hornbeck Offshore Services, Inc. (NYSE:HOS) were released by: Prnewswire.com and their article: “Hornbeck Offshore Announces Second Quarter 2016 Results” published on August 03, 2016 as well as Seekingalpha.com‘s news article titled: “Hornbeck Offshore Services: Should Its Cash Last?” with publication date: May 19, 2016.
HOS Company Profile
Hornbeck Offshore Services Inc., incorporated on June 2, 1997, is a well-known provider of marine transportation, subsea installation and accommodation support services to exploration and production, oilfield service, offshore construction and the United States military customers. The Firm focuses on providing marine solutions to meet the needs of the deepwater and ultradeepwater energy industry in domestic and select foreign locations. The Company, through its subsidiaries, operates offshore supply vessels (OSVs), multi-purpose support vessels (MPSVs), and a shore-base facility to provide logistics support and specialty services to the offshore gas and oil exploration and production industry, primarily in the United States, Gulf of Mexico (GoM), Latin America and selected international markets.
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