Shares of HC2 Holdings Inc (NYSE:HCHC) hit a new 52-week low on Tuesday . The stock traded as low as $3.88 and last traded at $3.83, with a volume of 56556 shares trading hands. The stock had previously closed at $5.04.
HCHC has been the subject of a number of research reports. ValuEngine upgraded HC2 from a “hold” rating to a “buy” rating in a research note on Monday, August 20th. Zacks Investment Research upgraded HC2 from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Thursday, November 8th.
The stock has a market capitalization of $222.08 million, a price-to-earnings ratio of -3.69 and a beta of 1.23. The company has a debt-to-equity ratio of 2.40, a current ratio of 3.35 and a quick ratio of 3.35.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HCHC. BlackRock Inc. increased its holdings in shares of HC2 by 1.1% in the third quarter. BlackRock Inc. now owns 2,272,194 shares of the technology company’s stock valued at $13,905,000 after buying an additional 25,347 shares in the last quarter. B. Riley Financial Inc. increased its position in HC2 by 29.1% during the 2nd quarter. B. Riley Financial Inc. now owns 1,807,157 shares of the technology company’s stock worth $10,571,000 after purchasing an additional 407,156 shares in the last quarter. JPMorgan Chase & Co. increased its position in HC2 by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,488,595 shares of the technology company’s stock worth $9,110,000 after purchasing an additional 36,156 shares in the last quarter. Northern Trust Corp increased its position in HC2 by 4.2% during the 2nd quarter. Northern Trust Corp now owns 466,649 shares of the technology company’s stock worth $2,730,000 after purchasing an additional 18,996 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in HC2 by 51.9% during the 2nd quarter. Renaissance Technologies LLC now owns 439,800 shares of the technology company’s stock worth $2,573,000 after purchasing an additional 150,200 shares in the last quarter. Hedge funds and other institutional investors own 57.31% of the company’s stock.
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About HC2 (NYSE:HCHC)
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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