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Hess Midstream LP (HESM) Could Be Worth Considering For The Next Few Weeks

Hess Midstream LP (NYSE:HESM) concluded the trading at $32.27 Friday, February 09 with a fall of -0.77% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $32.52 and 5Y monthly beta was reading 1.50 . Company’s P/E ratio for the trailing 12 months is 15.50. Considering stock’s 52-week price range provides that HESM hit a high price of $34.75 and saw its price falling to a low level of $25.63 during that period. Over a period of past 1-month, stock came adding 3.13% in its value.

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In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review HESM stock’s current outlook then short term indicators are assigning it an average of 50% Buy, while medium term indicators are categorizing the stock at an average of 100% Buy. Long term indicators are suggesting an average of 100% Buy for it.

Digging deeper we become aware of the PEG ratio of the HESM stock which is currently positioned at 1.39. It further provides that stock’s current price level is -2.64% away from its 20-day simple moving average and is 0.27% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 43.26 while volatility remained at 1.55% over the past week which changes to 1.64% when measuring it over the past month. Beta is valued at 1.49, while measure of average true range or ATR is currently at 0.64.

Having a second look at Hess Midstream LP (NYSE:HESM) provides that stock’s average daily trading volume for 3 months was 943.26K, while it jumped to 1.48 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 68.36 million.

The percentage of outstanding shares held by the insiders is 2.30% while it is 90.71% for the institutional holders. The figures also indicate that as of Jan 12, 2024, number of stock’s short shares was 4.71 million which implies a short ratio of 6.9. This shows down a 6.89% of Short Interest in company’s outstanding shares on the day. In January the standing of shares short improved as it was 4.81 million in the previous month. Addition of 2.02% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.