HC2 (NYSE:HCHC) Lifted to Buy at ValuEngine

HC2 (NYSE:HCHC) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday, ValuEngine reports.

A number of other equities analysts have also commented on the company. B. Riley set a $11.00 price target on HC2 and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research raised HC2 from a “sell” rating to a “hold” rating and set a $3.00 price target for the company in a research note on Friday, May 10th.

HC2 stock traded down $0.04 during midday trading on Friday, reaching $2.15. 104,000 shares of the stock traded hands, compared to its average volume of 361,205. The business’s fifty day moving average price is $2.24. HC2 has a 12 month low of $1.90 and a 12 month high of $6.58. The company has a market cap of $96.24 million, a PE ratio of -2.62 and a beta of 1.38. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 2.29.

HC2 (NYSE:HCHC) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.51. HC2 had a negative return on equity of 10.84% and a net margin of 9.64%. The company had revenue of $491.40 million during the quarter, compared to analyst estimates of $479.65 million. As a group, research analysts predict that HC2 will post -0.11 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. Jane Street Group LLC bought a new stake in shares of HC2 during the 4th quarter worth approximately $32,000. D. E. Shaw & Co. Inc. lifted its stake in shares of HC2 by 39.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 14,279 shares of the technology company’s stock worth $38,000 after acquiring an additional 4,022 shares during the last quarter. Mackay Shields LLC bought a new stake in shares of HC2 during the 4th quarter worth approximately $67,000. B. Riley Wealth Management Inc. lifted its stake in shares of HC2 by 76.8% during the 1st quarter. B. Riley Wealth Management Inc. now owns 34,403 shares of the technology company’s stock worth $84,000 after acquiring an additional 14,948 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in shares of HC2 by 67.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 41,800 shares of the technology company’s stock worth $102,000 after acquiring an additional 16,800 shares during the last quarter. 63.28% of the stock is owned by institutional investors and hedge funds.

About HC2

HC2 Holdings, Inc provides construction, marine services, energy, telecommunications, insurance, life sciences, broadcasting, and other services in the United States, the United Kingdom, and internationally. The company models, details, fabricates, and erects structural steel for commercial and industrial, and infrastructure construction projects, including building 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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