Hornbeck Offshore Services (NYSE:HOS) is at an overbought level with a 14-day RSI of 82.41.
The Relative Strength Index (RSI) is a very common technical indicator used to determine strengthening and weakening momentum in stock movements. RSI levels 70 and above are considered overbought while an RSI of under 30 is considered oversold. Overbought is a technical condition that occurs when prices are considered too high and may be susceptible to a decline.
Hornbeck Offshore Services’s beta is at 1.23 so it is more volatile than the market as a whole. Stocks with beta’s lower than 1 are considered to be less risky while those with a higher beta may be more risky than the market.
The stock’s Average True Range (ATR) is 0.24. The ATR is a measure of volatility. It doesn’t indicate the likely direction of the stock price, just the likelihood that the stock will move.
It is currently trading at $4.13 significantly above the 50 day moving average of $2.79 and quite a bit higher than the 200 day moving average of $2.93. The 50 day moving average was up $1.34 and the 200 day average went up by +40.938%.
Traders are a little more bullish recently if you put credence in the motion in short interest. The company experienced a fall in short interest of -3.53% as of the latest report on August 31, 2017. Short interest decreased 317,562 over that timeframe. With short interest at 8,690,507 and short average daily volume at 448,932, days to cover is 19.0 and the percentage of shorted shares is 0.24% as of August 31.
In the latest earnings report the EPS was $-2.28 and is projected to be $-2.98 for the current year with 37,028,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $-0.77 and the next full year EPS is projected to be $-2.87.
Hornbeck Offshore Services Inc., launched on June 2, 1997, is a provider of marine transportation, subsea installation and accommodation support services to exploration and production, oilfield service, offshore construction and the United States military customers. The Company focuses on providing marine solutions to meet the needs of the deepwater and ultradeepwater energy industry in domestic and select foreign locations. The Company, through its subsidiaries, operates offshore supply vessels (OSVs), multi-purpose support vessels (MPSVs), and a shore-base facility to provide logistics support and specialty services to the offshore oil and gas exploration and production industry, primarily in the United States, Gulf of Mexico (GoM), Latin America and selected international markets..