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Shares of Hornbeck Offshore Services Fall to a New 52-Week Low

By Shiri Gupta

Shares of Hornbeck Offshore Services (NYSE:HOS) traded at a new 52-week low today of $2.10. So far today approximately 1.1 million shares have been exchanged, as compared to an average 30-day volume of 978,000 shares.

Hornbeck Offshore Services (NYSE:HOS) has potential upside of 189.7% based on a current price of $2.14 and analysts' consensus price target of $6.20. Hornbeck Offshore Services shares should first meet resistance at the 50-day moving average (MA) of $9.94 and find additional resistance at the 200-day MA of $12.28.

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.

Hornbeck Offshore Services share prices have moved between a 52-week high of $25.01 and the current low of $2.10 and are currently at $2.14 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 24.9%. 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