HMH (NASDAQ:HMH) Shares Down 21.1% After Earnings Miss

HMH Holding Inc (NASDAQ:HMH)’s stock price traded down 21.1% on Thursday following a weaker than expected earnings announcement. The stock traded as low as $12.51 and last traded at $12.1570. Approximately 40,672 shares changed hands during trading, a decline of 84% from the average daily volume of 260,027 shares. The stock had previously closed at $15.40.

The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.14). The business had revenue of $171.08 million for the quarter.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HMH. Stifel Nicolaus upped their price target on HMH from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Zacks Research upgraded HMH from a “strong sell” rating to a “hold” rating in a research report on Friday, July 24th. Finally, Evercore set a $24.00 price objective on HMH in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, HMH has an average rating of “Buy” and an average price target of $28.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Kornitzer Capital Management Inc. KS acquired a new position in HMH in the 3rd quarter valued at approximately $490,000. Squarepoint Ops LLC acquired a new stake in shares of HMH during the 2nd quarter valued at $1,076,000. Readystate Asset Management LP acquired a new stake in shares of HMH during the 2nd quarter valued at $1,499,000. State Street Corp acquired a new stake in shares of HMH during the 2nd quarter valued at $2,825,000. Finally, Citadel Advisors LLC purchased a new position in shares of HMH during the 2nd quarter valued at $12,624,000.

HMH Stock Performance

The firm’s fifty day moving average price is $18.66 and its 200 day moving average price is $19.70. The company has a current ratio of 2.97, a quick ratio of 1.82 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $564.68 million and a PE ratio of 30.32.

HMH Company Profile

We are a leading provider of highly engineered, mission-critical equipment solutions, providing customers with a comprehensive portfolio of drilling equipment, services and systems utilized in oil and gas drilling operations, both offshore and onshore. Our global reach, technical expertise and innovative product offerings, coupled with our integrated operations from manufacturing to aftermarket services, allow us to provide customers with first class technology, engineering and project management services through the entire asset lifecycle of the equipment we provide.