Hercules Offshore (HERO) Showing Signs Of A Dead Cat Bounce Today

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Trade-Ideas LLC identified Hercules Offshore ( HERO) as a "dead cat bounce" (down big yesterday but up big today) candidate. In addition to specific proprietary factors, Trade-Ideas identified Hercules Offshore as such a stock due to the following factors:

  • HERO has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $14.7 million.
  • HERO has traded 405,100 shares today.
  • HERO is up 3.5% today.
  • HERO was down 6.2% yesterday.

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More details on HERO:

Hercules Offshore, Inc., together with its subsidiaries, provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry worldwide. The company operates through Domestic Offshore, International Offshore, and International Liftboats segments. Currently there are 4 analysts that rate Hercules Offshore a buy, no analysts rate it a sell, and 5 rate it a hold.

The average volume for Hercules Offshore has been 4.3 million shares per day over the past 30 days. Hercules has a market cap of $389.1 million and is part of the basic materials sector and energy industry. The stock has a beta of 2.43 and a short float of 16.9% with 4.65 days to cover. Shares are down 65.2% year-to-date as of the close of trading on Thursday.

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