B.Riley FBR Maintains a Buy Rating on HC2 Holdings (HCHC)

By Jason Carr

B.Riley FBR analyst Sarkis Sherbetchyan maintained a Buy rating on HC2 Holdings (HCHCResearch Report) yesterday and set a price target of $8.50. The company’s shares closed last Wednesday at $3.13.

According to TipRanks.com, Sherbetchyan ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -6.3% and a 40.8% success rate. Sherbetchyan covers the Industrial Goods sector, focusing on stocks such as Motorcar Parts Of America, S&W Seed Company, and Luxfer.

HC2 Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $8.50.

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The company has a one-year high of $4.33 and a one-year low of $1.29. Currently, HC2 Holdings has an average volume of 453.5K.

Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HCHC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

HC2 Holdings, Inc. engages in the acquisition and investment activities. It operates through following business segments: Construction, Marine Services, Insurance, Energy, Telecommunications, Life Sciences, and Other. The Construction segment is a structural steel fabricator and erector in the United States. The Marine Services segment provides engineering and underwater services on submarine cables. The Insurance segment is a platform for run-off long-term care business, through its two insurance companies, United Teacher Associates Insurance Company and Continental General Insurance Company. The Telecommunications segment is a provider of internet-based protocol and time-division multiplexing access and transport of long distance voice minutes. The Energy segment is compressed natural gas (CNG) that designs, builds, owns, operates and maintains natural gas fueling stations for the transportation industry. The Life Sciences segment focuses on supporting healthcare and biotechnology product development. The Other segment includes the creation and distribution of NASCAR video games, and Ner Vvve which provides analytics on broadcasts TV, digital and social media online platforms. The company was founded in 1994 and is headquartered in New York, NY.