HC2 Holdings Inc (NYSE:HCHC) shares rose 6.6% during trading on Wednesday . The stock traded as high as $2.45 and last traded at $2.43, approximately 146,276 shares changed hands during trading. A decline of 52% from the average daily volume of 304,334 shares. The stock had previously closed at $2.28.
HCHC has been the topic of several research analyst reports. Zacks Investment Research raised HC2 from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research report on Thursday, October 10th. B. Riley set a $11.00 price target on HC2 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, ValuEngine lowered HC2 from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th.
The firm has a market cap of $104.54 million, a price-to-earnings ratio of -2.96 and a beta of 1.51. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.92. The stock has a fifty day moving average price of $2.24 and a 200-day moving average price of $2.29.
Large investors have recently added to or reduced their stakes in the company. Morgan Stanley increased its holdings in shares of HC2 by 31.6% in the second quarter. Morgan Stanley now owns 25,612 shares of the technology company’s stock valued at $60,000 after purchasing an additional 6,150 shares during the period. A.R.T. Advisors LLC purchased a new stake in shares of HC2 in the second quarter valued at approximately $71,000. Ardsley Advisory Partners LP purchased a new stake in shares of HC2 in the second quarter valued at approximately $119,000. Man Group plc purchased a new stake in shares of HC2 in the second quarter valued at approximately $122,000. Finally, Quinn Opportunity Partners LLC boosted its stake in shares of HC2 by 17.9% in the second quarter. Quinn Opportunity Partners LLC now owns 104,023 shares of the technology company’s stock valued at $245,000 after buying an additional 15,816 shares in the last quarter. 55.27% of the stock is currently owned by institutional investors and hedge funds.
About HC2 (NYSE:HCHC)
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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