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Shares of Hornbeck Offshore Services Fall Below Previous 52-Week Low

By Shiri Gupta

Hornbeck Offshore Services (NYSE:HOS) traded today at a new 52-week low of $1.62. This new low was reached on below average trading volume as 110,000 shares traded hands, while the average 30-day volume is approximately 978,000 shares.

Hornbeck Offshore Services, Inc. provides marine transportation services to the offshore oil and gas industry. The Company owns and operates deepwater offshore supply vessels in the Gulf of Mexico, which support day-to-day operations of oil drilling rigs and production platforms. Hornbeck also owns and operates ocean going tugs and barges in the northeastern United States and Puerto Rico.

Potential upside of 281.0% exists for Hornbeck Offshore Services, based on a current level of $1.63 and analysts' average consensus price target of $6.20. The stock should run into initial resistance at its 50-day moving average (MA) of $9.94 and subsequent resistance at its 200-day MA of $12.28.

Hornbeck Offshore Services share prices have moved between a 52-week high of $25.01 and the current low of $1.62 and are currently at $1.63 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.2% while the 200-day MA has slid 1.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Hornbeck Offshore Services on May 8th, 2017 by issuing a Downtrend alert when the shares were trading at $3.00. Since that call, shares of Hornbeck Offshore Services have fallen 43.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows hornbeck offshore services

Ticker(s): HOS