Helix Energy Solutions
One earnings short-squeeze play in the oil well services and equipment complex is Helix Energy Solutions (HLX), which is set to release numbers on Wednesday after the market close. Wall Street analysts, on average, expect Helix Energy Solutions Group to report revenues of $330.87 million on earnings of 35 cent per share.
This company met Wall Street estimates last quarter after beating them the prior two. During the third quarter, Helix Energy Solutions reported a profit of 43 cents per share vs. a mean estimate of net income of 43 cents per share. In the second quarter, they beat estimates by 21 cents. A year-over-year revenue decline in the third quarter followed a streak of three straight quarters of revenue increases.The current short interest as a percentage of the float for Helix Energy Solutions Group sits at 7%. That means that out of the 98.05 million shares in the tradable float, 6.83 million are sold short by the bears. The bears have also been increasing their short positions from the last reporting period by 3.4%, or by about 226,400 shares. >>Energy Stocks Bought and Sold by Hedge Funds From a technical perspective, HLX is currently trading above both its 50-day and 200-day moving average, which is bullish. This stock recently bounced off its 50-day moving average near $16, and then soared to its current price of just over $19.40 a share. This stock is now within range of triggering a major breakout post-earnings if the company can deliver strong results. If you're bullish on HLX, I would look for long-biased trades after it reports earnings if it can manage to break out above some near-term overhead resistance at $19.69 a share with strong volume. Look for volume that registers near or above its three-month average volume of about a million shares. If we get that action, look for HLX to re-test its 52-week high of $21.65 a share, or possibly trend much higher. I would simply avoid HLX or look for short biased trades if the stock fails to breakout after they report earnings, and then drops below some near-term support at $18 with volume. Target a drop back towards the 50-day moving average of $16.80 a share, or possibly much lower if the bears hammer this stock down post-earnings. Follow @stockpickr
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV