SEACOR Marine (NYSE:SMHI) Stock Crosses Below 50-Day Moving Average – Here’s Why

SEACOR Marine Holdings Inc. (NYSE:SMHI – Get Free Report)’s stock price crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $8.92 and traded as low as $8.69. SEACOR Marine shares last traded at $8.7780, with a volume of 294,631 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of SEACOR Marine in a report on Thursday, October 15th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.00.

View Our Latest Research Report on SEACOR Marine

SEACOR Marine Stock Performance

The company has a debt-to-equity ratio of 1.16, a current ratio of 2.20 and a quick ratio of 2.17. The business has a 50-day simple moving average of $8.92 and a 200-day simple moving average of $8.09. The firm has a market capitalization of $238.15 million, a PE ratio of -6.18 and a beta of 1.19.

SEACOR Marine (NYSE:SMHI – Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.25. The business had revenue of $57.25 million during the quarter, compared to analyst estimates of $52.99 million. SEACOR Marine had a negative return on equity of 14.51% and a negative net margin of 17.55%. Equities research analysts expect that SEACOR Marine Holdings Inc. will post -1.23 earnings per share for the current fiscal year.

Insider Buying and Selling at SEACOR Marine

In related news, CFO Jesús Llorca sold 4,000 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $10.00, for a total transaction of $40,000.00. Following the sale, the chief financial officer owned 382,981 shares in the company, valued at approximately $3,829,810. This represents a 1.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Andrew Everett, II sold 4,116 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $10.00, for a total value of $41,160.00. Following the completion of the sale, the vice president owned 194,279 shares of the company’s stock, valued at approximately $1,942,790. This represents a 2.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,924 shares of company stock worth $118,759 in the last 90 days. 16.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SEACOR Marine

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Covestor Ltd purchased a new stake in shares of SEACOR Marine in the third quarter valued at $29,000. Royal Bank of Canada boosted its stake in shares of SEACOR Marine by 781.0% during the 1st quarter. Royal Bank of Canada now owns 5,718 shares of the company’s stock worth $41,000 after purchasing an additional 5,069 shares during the period. Hilltop Holdings Inc. purchased a new position in shares of SEACOR Marine during the 1st quarter worth about $147,000. Empowered Funds LLC purchased a new position in shares of SEACOR Marine during the 2nd quarter worth about $162,000. Finally, Deutsche Bank AG purchased a new position in shares of SEACOR Marine during the 2nd quarter worth about $166,000. Hedge funds and other institutional investors own 59.05% of the company’s stock.

About SEACOR Marine

(Get Free Report)

SEACOR Marine Holdings Inc. (NYSE: SMHI) provides marine transportation and support services to the offshore oil and gas industry. Its vessels help move personnel, equipment and supplies between shore bases and offshore installations. The company operates a range of offshore support vessels, including platform supply vessels, anchor-handling towing supply vessels and crew transport vessels. Its services also support offshore logistics, towing and anchor handling, and other marine operations. SEACOR Marine serves customers in international offshore markets, including regions in the Americas, West Africa and the Middle East.

Further Reading

Receive News & Ratings for SEACOR Marine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SEACOR Marine and related companies with MarketBeat.com's FREE daily email newsletter.