Stock On Watch: Could HP Inc See a Reversal After This Very Weak Session?

Stock On Watch: Could HP Inc See a Reversal After This Very Weak Session?

The stock of HP Inc (NYSE:HPQ) is a huge mover today! About 9.08 million shares traded hands. HP Inc (NYSE:HPQ) has risen 29.49% since March 11, 2016 and is uptrending. It has outperformed by 24.03% the S&P500.
The move comes after 8 months negative chart setup for the $24.89 billion company. It was reported on Oct, 14 by Barchart.com. We have $13.41 PT which if reached, will make NYSE:HPQ worth $2.24 billion less.

HP Inc (NYSE:HPQ) Ratings Coverage

Out of 25 analysts covering Hewlett-Packard (NYSE:HPQ), 8 rate it a “Buy”, 0 “Sell”, while 17 “Hold”. This means 32% are positive. Hewlett-Packard has been the topic of 70 analyst reports since August 17, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Thursday, August 25 by Maxim Group. Needham maintained the shares of HPQ in a report on Thursday, September 17 with “Hold” rating. The company was maintained on Monday, August 24 by Morgan Stanley. BMO Capital Markets initiated HP Inc (NYSE:HPQ) on Friday, December 11 with “Market Perform” rating. The firm earned “Buy” rating on Wednesday, September 16 by Monness Crespi & Hardt. Monness Crespi & Hardt initiated the shares of HPQ in a report on Monday, November 2 with “Neutral” rating. The company was upgraded on Monday, November 23 by Maxim Group. On Monday, November 2 the stock rating was initiated by Credit Suisse with “Outperform”. As per Monday, October 10, the company rating was maintained by RBC Capital Markets. The rating was maintained by Jefferies on Thursday, August 25 with “Buy”.

According to Zacks Investment Research, “HP Inc. is the surviving entity following the November 2015 split of Hewlett-Packard Company into publicly traded entities – Hewlett Packard Enterprise Company and HP Inc. The company’s focus will be on the PC and printing products and services. HP Inc. is headquartered in Palo Alto, California.”

Insitutional Activity: The institutional sentiment increased to 0.57 in 2016 Q2. Its up 0.24, from 0.33 in 2016Q1. The ratio is positive, as 9 funds sold all HP Inc shares owned while 12 reduced positions. 4 funds bought stakes while 8 increased positions. They now own 4.91 million shares or 18.11% less from 6.00 million shares in 2016Q1.
Horrell Incorporated reported 27,389 shares or 0.3% of all its holdings. Huntington Bancorp holds 118,224 shares or 0.09% of its portfolio. Vantage Advisors Limited Liability last reported 732 shares in the company. Gulf Retail Bank (Uk) Limited last reported 543,099 shares in the company. Focused Wealth holds 18,527 shares or 0.11% of its portfolio. Ferguson Wellman Cap Mgmt, a Oregon-based fund reported 11,523 shares. North Star Asset reported 28,619 shares or 0.04% of all its holdings. Greenwich Wealth Limited Liability last reported 156,109 shares in the company. Concannon Wealth Mgmt Ltd Com owns 127 shares or 0% of their US portfolio. West Oak Cap Ltd, a California-based fund reported 2,050 shares. Wedgewood Investors Pa holds 0.18% of its portfolio in HP Inc (NYSE:HPQ) for 15,310 shares. Gotham Asset Limited Liability Corporation holds 0.39% or 2.57M shares in its portfolio. Moreover, Jnba Advsrs has 0.01% invested in HP Inc (NYSE:HPQ) for 3,469 shares. Moreover, Palo Cap has 0.14% invested in HP Inc (NYSE:HPQ) for 32,400 shares. Budros Ruhlin And Roe reported 26,946 shares or 0.11% of all its holdings.

Insider Transactions: Since May 27, 2016, the stock had 0 insider purchases, and 5 insider sales for $7.13 million net activity. Another trade for 100,000 shares valued at $1.50 million was sold by KEOGH TRACY S. Another trade for 10,269 shares valued at $149,414 was sold by MYERS MARIE.

More notable recent HP Inc (NYSE:HPQ) news were published by: Fool.com which released: “Better Buy: HP Inc. or Xerox Corp?” on October 13, 2016, also Wsj.com with their article: “HP Issues Cautious Forecast, Plans Job Cuts” published on October 13, 2016, Fool.com published: “HP Inc. Stock Is Finally Getting Some Respect” on October 12, 2016. More interesting news about HP Inc (NYSE:HPQ) were released by: Streetinsider.com and their article: “UPDATE: HP, Inc. (HPQ) Plans to Cut Up to 4000 Jobs Across Divisions Over …” published on October 13, 2016 as well as Prnewswire.com‘s news article titled: “Research Reports on Computer Systems Equities — HP Inc., Hewlett Packard …” with publication date: October 14, 2016.

HPQ Company Profile

HP Inc., incorporated on February 11, 1998, is a well-known provider of personal computing and other access devices, imaging and printing products, and related technologies, solutions and services. The Firm operates through three divisions: Personal Systems, Printing and Corporate Investments. The Firm sells to individual consumers, small- and medium-sized businesses (SMBs) and large enterprises, including clients in the government, health and education sectors.

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