Helios Technologies (NASDAQ:HLIO) Hits New 12-Month Low – Here’s What Happened

Helios Technologies, Inc. (NASDAQ:HLIO)’s share price reached a new 52-week low on Wednesday . The company traded as low as $36.01 and last traded at $36.32, with a volume of 36057 shares traded. The stock had previously closed at $37.12.

Analysts Set New Price Targets

Separately, Stifel Nicolaus reduced their price objective on Helios Technologies from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th.

Helios Technologies Stock Down 1.3 %

The firm has a market cap of $1.22 billion, a PE ratio of 32.45 and a beta of 0.90. The company has a current ratio of 3.03, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average price of $42.22 and a 200-day moving average price of $45.78.

Helios Technologies declared that its board has approved a stock repurchase program on Monday, February 24th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Helios Technologies

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Helios Technologies by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,328,127 shares of the company’s stock valued at $148,568,000 after buying an additional 13,059 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in Helios Technologies by 15.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,986,528 shares of the company’s stock worth $88,679,000 after acquiring an additional 266,127 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Helios Technologies by 1.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,841,823 shares of the company’s stock valued at $82,219,000 after acquiring an additional 21,683 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Helios Technologies by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,438,786 shares of the company’s stock valued at $64,227,000 after acquiring an additional 79,178 shares in the last quarter. Finally, Sara Bay Financial grew its holdings in shares of Helios Technologies by 25.5% during the fourth quarter. Sara Bay Financial now owns 1,217,467 shares of the company’s stock worth $54,080,000 after purchasing an additional 247,088 shares during the last quarter. 94.72% of the stock is owned by hedge funds and other institutional investors.

About Helios Technologies

Helios Technologies, Inc, together with its subsidiaries, provides engineered motion control and electronic control technology solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Hydraulics and Electronics. The Hydraulics segment offers cartridge valve technology products to control rates and direction of fluid flow, and to regulate and control pressures for industrial and mobile applications; hydraulic quick release coupling solutions for the agriculture, construction equipment, and industrial markets; motion control technology and fluid conveyance technology; cartridge valve technology; engineered solutions for machine users, manufacturers, or designers.