A Reversal for Hi-Crush Partners LP (HCLP) Is Not Near. The Formed Bearish Ascending Triangle

December 8, 2017 - By Stephen Andrade

Investors sentiment decreased to 1.66 in Q2 2017. Its down 0.41, from 2.07 in 2017Q1. It dived, as 22 investors sold Hi-Crush Partners LP shares while 16 reduced holdings. 27 funds opened positions while 36 raised stakes. 44.46 million shares or 4.19% less from 46.41 million shares in 2017Q1 were reported.
L & S Advsr, a California-based fund reported 51,375 shares. Hodges Capital Mgmt owns 0.01% invested in Hi-Crush Partners LP (NYSE:HCLP) for 15,000 shares. 100 were reported by Benjamin F Edwards & Commerce Inc. Valicenti Advisory has 0.72% invested in Hi-Crush Partners LP (NYSE:HCLP). Lucas Cap Management, New Jersey-based fund reported 15,000 shares. Hite Hedge Asset holds 2.13% in Hi-Crush Partners LP (NYSE:HCLP) or 587,625 shares. Stifel Corporation has 27,238 shares for 0% of their portfolio. Royal Comml Bank Of Canada holds 45,522 shares. Susquehanna Group Ltd Liability Partnership reported 2.12 million shares stake. Raymond James Financial Advsrs Inc has invested 0.01% in Hi-Crush Partners LP (NYSE:HCLP). Lpl Ltd Liability Corp invested 0% in Hi-Crush Partners LP (NYSE:HCLP). The New York-based Omega has invested 0.24% in Hi-Crush Partners LP (NYSE:HCLP). The Ontario – Canada-based Toronto Dominion Commercial Bank has invested 0.01% in Hi-Crush Partners LP (NYSE:HCLP). Principal Fin Grp Inc Inc owns 0% invested in Hi-Crush Partners LP (NYSE:HCLP) for 30,720 shares. Malaga Cove Capital owns 65,298 shares.

The stock of Hi-Crush Partners LP (HCLP) formed an ascending triangle with $9.49 target or 6.00 % below today’s $10.10 share price. The 8 months triangle pattern indicates high risk for the $919.41 million company. If the $9.49 price target is reached, the company will be worth $55.16M less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 1.00% or $0.1 during the last trading session, reaching $10.1. About 1.38M shares traded. Hi-Crush Partners LP (NYSE:HCLP) has risen 114.79% since December 8, 2016 and is uptrending. It has outperformed by 98.09% the S&P500.

Analysts await Hi-Crush Partners LP (NYSE:HCLP) to report earnings on February, 20. They expect $0.53 EPS, up 581.82 % or $0.64 from last year’s $-0.11 per share. HCLP’s profit will be $48.25 million for 4.76 P/E if the $0.53 EPS becomes a reality. After $0.32 actual EPS reported by Hi-Crush Partners LP for the previous quarter, Wall Street now forecasts 65.63 % EPS growth.

Hi-Crush Partners LP (NYSE:HCLP) Ratings Coverage

Among 17 analysts covering Hi-Crush Partners (NYSE:HCLP), 10 have Buy rating, 4 Sell and 3 Hold. Therefore 59% are positive. Hi-Crush Partners had 49 analyst reports since July 24, 2015 according to SRatingsIntel. The firm has “Accumulate” rating by Johnson Rice given on Friday, June 23. On Wednesday, October 28 the stock rating was maintained by Wunderlich with “Buy”. The company was downgraded on Wednesday, October 28 by Barclays Capital. The firm has “Underperform” rating given on Monday, June 13 by DA Davidson. On Monday, December 7 the stock rating was initiated by DA Davidson with “Buy”. Cowen & Co upgraded the shares of HCLP in report on Monday, December 5 to “Outperform” rating. Cowen & Co maintained Hi-Crush Partners LP (NYSE:HCLP) rating on Wednesday, October 18. Cowen & Co has “Buy” rating and $12.0 target. The rating was initiated by FBR Capital on Wednesday, December 6 with “Buy”. On Thursday, July 30 the stock rating was upgraded by Robert W. Baird to “Outperform”. The rating was maintained by Wunderlich with “Hold” on Monday, May 2.

More recent Hi-Crush Partners LP (NYSE:HCLP) news were published by: Streetinsider.com which released: “B.Riley/FBR Starts Hi-Crush Partners LP (HCLP) at Buy” on December 06, 2017. Also Seekingalpha.com published the news titled: “Hi-Crush: Just Buy Already” on December 04, 2017. Globenewswire.com‘s news article titled: “Hi-Crush Partners LP to Participate in Upcoming Investor Conferences” with publication date: November 21, 2017 was also an interesting one.

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