Horizon Global (NYSE:HZN) Sees Strong Trading Volume

Horizon Global Corp (NYSE:HZN) shares saw an uptick in trading volume on Friday . 711,972 shares were traded during mid-day trading, an increase of 224% from the previous session’s volume of 219,553 shares.The stock last traded at $3.50 and had previously closed at $2.93.

Several research firms have weighed in on HZN. ValuEngine raised Horizon Global from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research raised Horizon Global from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Roth Capital reaffirmed a “neutral” rating on shares of Horizon Global in a research report on Friday, May 24th.

The stock has a 50-day moving average price of $4.07 and a 200 day moving average price of $3.17.

Horizon Global (NYSE:HZN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.07). The business had revenue of $223.16 million for the quarter, compared to analyst estimates of $241.23 million. Horizon Global had a negative return on equity of 731.99% and a negative net margin of 13.54%. On average, equities research analysts predict that Horizon Global Corp will post -1.4 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Horizon Global by 13.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,487,928 shares of the company’s stock worth $12,522,000 after buying an additional 404,930 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Horizon Global by 57.1% during the first quarter. Royce & Associates LP now owns 1,689,690 shares of the company’s stock worth $3,278,000 after buying an additional 614,364 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Horizon Global by 2.4% during the second quarter. Vanguard Group Inc. now owns 848,039 shares of the company’s stock worth $3,044,000 after buying an additional 19,689 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Horizon Global by 12.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 446,807 shares of the company’s stock worth $1,604,000 after buying an additional 51,118 shares in the last quarter. 40.26% of the stock is currently owned by institutional investors.

Horizon Global Company Profile (NYSE:HZN)

Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products worldwide. It operates in three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa. The company provides towing products, such as hitches, fifth wheels, gooseneck hitches, weight distribution systems, wiring harnesses, draw bars, ball mounts, crossbars, tow bars, security products, and other towing accessories for attaching a trailer, camper, etc.

Further Reading: Operating Income

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