HC2 (HCHC) Downgraded by ValuEngine to “Hold”

ValuEngine downgraded shares of HC2 (NYSE:HCHC) from a buy rating to a hold rating in a research note released on Thursday morning.

Separately, Zacks Investment Research raised HC2 from a sell rating to a hold rating in a research note on Thursday, July 12th.

Shares of NYSE HCHC traded up $0.13 during mid-day trading on Thursday, hitting $5.28. The company had a trading volume of 2,716 shares, compared to its average volume of 179,575. The company has a market cap of $240.53 million, a price-to-earnings ratio of -5.22 and a beta of 1.06. HC2 has a 12 month low of $4.78 and a 12 month high of $7.79. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 4.16.

HC2 (NYSE:HCHC) last announced its quarterly earnings results on Wednesday, August 8th. The technology company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.24). The company had revenue of $496.78 million during the quarter, compared to the consensus estimate of $454.23 million. HC2 had a negative return on equity of 51.25% and a net margin of 0.32%. As a group, equities analysts forecast that HC2 will post -2.22 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in HCHC. CAPROCK Group Inc. increased its position in shares of HC2 by 7.1% during the 2nd quarter. CAPROCK Group Inc. now owns 150,000 shares of the technology company’s stock valued at $878,000 after purchasing an additional 10,000 shares during the period. Clear Harbor Asset Management LLC acquired a new position in shares of HC2 during the 2nd quarter valued at $146,000. Schwab Charles Investment Management Inc. increased its position in shares of HC2 by 14.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 87,819 shares of the technology company’s stock valued at $514,000 after purchasing an additional 11,019 shares during the period. BlackRock Inc. increased its position in shares of HC2 by 15.2% during the 2nd quarter. BlackRock Inc. now owns 2,246,847 shares of the technology company’s stock valued at $13,144,000 after purchasing an additional 296,743 shares during the period. Finally, MYDA Advisors LLC acquired a new position in shares of HC2 during the 2nd quarter valued at $366,000. 57.18% of the stock is currently owned by hedge funds and other institutional investors.

About HC2

HC2 Holdings, Inc engages in the construction, marine services, energy, telecommunications, insurance, life sciences, and other businesses in the United States, the United Kingdom, and internationally. The company fabricates and erects structural steel for commercial and industrial construction projects, such as buildings 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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