IHS (NYSE:IHS) Stock Breaks Above Two Hundred Day Moving Average – What’s Next?

IHS Holding Limited (NYSE:IHS) shares passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $8.29 and traded as high as $8.45. IHS shares last traded at $8.4350, with a volume of 598,858 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of IHS from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, September 8th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, IHS currently has an average rating of “Hold” and an average target price of $8.80.

IHS Stock Performance

The stock has a market capitalization of $2.85 billion, a PE ratio of 21.06 and a beta of 0.74. The firm has a 50 day moving average of $8.38 and a 200-day moving average of $8.29.

IHS (NYSE:IHS) last released its quarterly earnings data on Monday, August 10th. The business services provider reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.16). IHS had a net margin of 8.17% and a negative return on equity of 832.09%. The company had revenue of $428.60 million during the quarter, compared to analyst estimates of $442.72 million.

Hedge Funds Weigh In On IHS

A number of institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC lifted its position in shares of IHS by 60.6% during the 2nd quarter. Squarepoint Ops LLC now owns 1,149,563 shares of the business services provider’s stock worth $9,472,000 after purchasing an additional 433,811 shares during the last quarter. Corient Private Wealth LP grew its position in IHS by 9.2% in the 2nd quarter. Corient Private Wealth LP now owns 49,156 shares of the business services provider’s stock worth $405,000 after purchasing an additional 4,156 shares during the last quarter. Groupe la Francaise increased its holdings in shares of IHS by 48.0% during the 2nd quarter. Groupe la Francaise now owns 917,096 shares of the business services provider’s stock worth $7,557,000 after purchasing an additional 297,298 shares during the period. BTG Pactual Asset Management US LLC raised its position in shares of IHS by 171.2% during the second quarter. BTG Pactual Asset Management US LLC now owns 62,361 shares of the business services provider’s stock valued at $514,000 after buying an additional 39,363 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of IHS by 6,115.4% during the first quarter. Royal Bank of Canada now owns 108,831 shares of the business services provider’s stock valued at $896,000 after buying an additional 107,080 shares during the last quarter. Institutional investors own 17.54% of the company’s stock.

About IHS

IHS Holding Limited is a telecommunications infrastructure company that develops, owns, and operates shared communications infrastructure. Its core business is providing wireless telecommunications towers and related infrastructure that mobile network operators use to expand network coverage and capacity.

The company’s services include tower leasing, site management, power management, and infrastructure support. By allowing multiple telecommunications providers to share tower sites and related facilities, IHS helps operators deploy and maintain wireless networks while improving the efficiency of their infrastructure investments.

IHS has historically focused on emerging markets across Africa, Latin America, and the Middle East, serving mobile network operators and other communications customers in those regions.