IHS (NYSE:IHS) Stock Price Breaks Above 200-Day Moving Average – Here’s What Happened

IHS Holding Limited (NYSE:IHS)’s share price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $8.30 and traded as high as $8.44. IHS shares last traded at $8.4350, with a volume of 368,697 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded IHS from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.80.

IHS Trading Down 0.1%

The company has a market cap of $2.85 billion, a P/E ratio of 21.09 and a beta of 0.74. The stock’s 50 day moving average is $8.40 and its 200-day moving average is $8.30.

IHS (NYSE:IHS) last announced its quarterly earnings data on Monday, August 10th. The business services provider reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.16). The firm had revenue of $428.60 million for the quarter, compared to analysts’ expectations of $442.72 million. IHS had a net margin of 8.17% and a negative return on equity of 832.09%.

Institutional Investors Weigh In On IHS

A number of institutional investors have recently made changes to their positions in IHS. Cyndeo Wealth Partners LLC bought a new stake in shares of IHS during the third quarter valued at approximately $100,000. Squarepoint Ops LLC lifted its position in IHS by 60.6% in the 2nd quarter. Squarepoint Ops LLC now owns 1,149,563 shares of the business services provider’s stock valued at $9,472,000 after acquiring an additional 433,811 shares in the last quarter. Corient Private Wealth LP lifted 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 valued at $405,000 after acquiring an additional 4,156 shares in the last quarter. Groupe la Francaise boosted its stake in IHS by 48.0% during the 2nd quarter. Groupe la Francaise now owns 917,096 shares of the business services provider’s stock valued at $7,557,000 after purchasing an additional 297,298 shares during the last quarter. Finally, BTG Pactual Asset Management US LLC boosted its stake in IHS by 171.2% during the 2nd quarter. BTG Pactual Asset Management US LLC now owns 62,361 shares of the business services provider’s stock valued at $514,000 after purchasing an additional 39,363 shares during the last quarter. Hedge funds and other 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.