HMH (NASDAQ:HMH) Rating Lowered to “Hold” at Zacks Research

HMH (NASDAQ:HMH) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus increased their price target on shares of HMH from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Evercore set a $24.00 price target on shares of HMH in a research note on Friday, August 7th. Piper Sandler decreased their price target on HMH from $32.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. cut HMH from an “overweight” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research note on Friday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.60.

HMH Trading Up 10.9%

Shares of HMH opened at $11.72 on Tuesday. The company has a current ratio of 2.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.23. HMH has a 12-month low of $10.31 and a 12-month high of $24.50. The firm has a 50-day moving average price of $17.87 and a 200 day moving average price of $19.42. The firm has a market capitalization of $514.91 million and a P/E ratio of 14.29.

HMH (NASDAQ:HMH) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.14). The company had revenue of $171.08 million for the quarter. Sell-side analysts forecast that HMH will post 0.44 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC acquired a new position in HMH in the 2nd quarter valued at $12,624,000. State Street Corp acquired a new stake in shares of HMH in the 2nd quarter valued at approximately $2,825,000. Readystate Asset Management LP acquired a new stake in shares of HMH in the 2nd quarter valued at approximately $1,499,000. Squarepoint Ops LLC purchased a new stake in shares of HMH in the second quarter valued at approximately $1,076,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of HMH in the third quarter valued at approximately $31,000.

About HMH

HMH Holding Inc. provides drilling equipment, systems and services for the global energy industry. Its offerings include drilling and well-control systems, equipment for offshore rigs, and aftermarket support such as maintenance, upgrades and spare parts. The company serves drilling contractors and energy operators in offshore and onshore markets. Its operations bring together the MHWirth business and Baker Hughes’ subsea drilling systems business, which combined to form HMH.