HC2 (NYSE:HCHC) Rating Lowered to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of HC2 (NYSE:HCHC) from a buy rating to a hold rating in a research report sent to investors on Saturday morning, Zacks.com reports.

According to Zacks, “HC2 Holdings, Inc. is a holding company which seeks to acquire and grow attractive businesses. The company’s operating segments consists of Manufacturing, Marine Services, Insurance, Utilities, Telecommunications, Life Sciences and Other. Its operating subsidiaries consists of Schuff International Inc., is a steel fabricator and erector primarily in the United States and Global Marine Systems Limited, provider of engineering and underwater services on submarine cables. HC2 Holdings, Inc. is headquartered in New York. “

Other equities analysts have also recently issued research reports about the company. B. Riley set a $11.00 target price on HC2 and gave the stock a buy rating in a report on Wednesday, July 31st. ValuEngine upgraded HC2 from a hold rating to a buy rating in a report on Friday, August 2nd.

Shares of HCHC opened at $2.23 on Friday. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.97 and a current ratio of 1.97. HC2 has a 1 year low of $1.90 and a 1 year high of $6.58. The company has a market capitalization of $104.33 million, a PE ratio of -2.72 and a beta of 1.37. The stock’s 50-day moving average is $2.20.

A number of institutional investors and hedge funds have recently modified their holdings of HCHC. Ardsley Advisory Partners LP purchased a new position in shares of HC2 in the second quarter worth about $119,000. Quinn Opportunity Partners LLC increased its holdings 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 worth $245,000 after buying an additional 15,816 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of HC2 by 2,014.6% in the second quarter. Russell Investments Group Ltd. now owns 334,105 shares of the technology company’s stock worth $789,000 after buying an additional 318,305 shares during the period. Acadian Asset Management LLC increased its holdings in shares of HC2 by 11.8% in the second quarter. Acadian Asset Management LLC now owns 512,180 shares of the technology company’s stock worth $1,208,000 after buying an additional 54,024 shares during the period. Finally, Menta Capital LLC increased its holdings in shares of HC2 by 43.2% in the second quarter. Menta Capital LLC now owns 133,676 shares of the technology company’s stock worth $315,000 after buying an additional 40,330 shares during the period. Hedge funds and other institutional investors own 63.07% of the company’s stock.

HC2 Company Profile

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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