HC2 Holdings Inc (HCHC) Stock Rating Lowered by Zacks Investment Research

HC2 Holdings Inc (NASDAQ:HCHC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “HC2 Holdings Inc. is an integrated facilities-based communications services provider. The Company offers international and domestic voice, voice-over-Internet protocol (VOIP), Internet, wireless, data and hosting services to business and residential retail customers and other carriers located in North America, Australia, and Europe. HC2 Holdings, Inc., formerly known as PTGi Holding Inc., is headquartered in Herndon, Virginia. “

Separately, B. Riley reissued a “buy” rating and issued a $9.00 price objective on shares of HC2 Holdings in a research note on Sunday, August 14th.

HC2 Holdings (NASDAQ:HCHC) traded down 4.29% on Tuesday, reaching $5.58. The company’s stock had a trading volume of 262,156 shares. The firm has a 50-day moving average of $4.97 and a 200-day moving average of $4.37. HC2 Holdings has a one year low of $3.25 and a one year high of $7.97. The company’s market capitalization is $197.73 million.

HC2 Holdings (NASDAQ:HCHC) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.02 EPS for the quarter. The business earned $359.30 million during the quarter, compared to the consensus estimate of $280.98 million. Analysts predict that HC2 Holdings will post ($1.17) EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in HCHC. Nomura Holdings Inc. raised its position in HC2 Holdings by 100.0% in the second quarter. Nomura Holdings Inc. now owns 239,580 shares of the company’s stock valued at $1,030,000 after buying an additional 119,790 shares in the last quarter. Bridgeway Capital Management Inc. raised its position in HC2 Holdings by 29.9% in the second quarter. Bridgeway Capital Management Inc. now owns 393,029 shares of the company’s stock valued at $1,690,000 after buying an additional 90,429 shares in the last quarter. Finally, Wingspan Investment Management LP purchased a new position in HC2 Holdings during the second quarter valued at about $6,289,000.

5 Day Chart for NASDAQ:HCHC

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