Shares of Hornbeck Offshore Services Fall to a New 52-Week Low
Hornbeck Offshore Services (NYSE:HOS) traded at a new 52-week low today of $4.49. So far today approximately 224,000 shares have been exchanged, as compared to an average 30-day volume of 978,000 shares.
Potential upside of 298.4% exists for Hornbeck Offshore Services, based on a current level of $4.62 and analysts' average consensus price target of $18.40. 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, 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.
In the past 52 weeks, Hornbeck Offshore Services share prices have been bracketed by a current low of $4.49 and a high of $25.01 and are now at $4.62. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has advanced 3.2%.
SmarTrend recommended that its subscribers protect gains by selling shares of Hornbeck Offshore Services on August 4th, 2016 by issuing a Downtrend alert when the shares were trading at $7.09. Since that call, shares of Hornbeck Offshore Services have fallen 34.4%. 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