Helios Technologies hits record high, chart indicates 'golden cross'

Helios Technologies

08/11/2021 15:40

** Vehicle power controls maker's shares  HLIO.K  up 6.4% at
a record high of $99.5 on strong results, robust guidance
    ** Co reports Q3 earnings of $1.07 per share, beating
analysts' expectations of 80 cents
    ** Revenue rose 82% to $223.24 mln from a year ago; analysts
expected $195.93 mln
    ** Co raises earnings per share forecast for FY21 to $3.75
to $4.10, higher than estimates of $3.75
    ** Sees FY21 revenue in a range of $840 to $860 mln, versus
estimates of $813.3 mln
     ** Co has exceeded earnings estimates for the past 10
consecutive quarters and surpassed revenue estimates for nine
straight quarters
    ** Shares currently trade about 15.7% above the 50-day
moving average (DMA) of $86.43 and about 30.9% higher than their
200-DMA of $76.07, signaling a bullish trend
    ** Stock also depicts a golden cross, a technical indicator
for a potential for a major rally. The golden cross appears on a
chart when a stock's short-term moving average (50-DMA) crosses
above its long-term moving average (200-DMA).
    ** Four of five brokerages rate the stock "buy" or higher
and one "hold"; their median PT is $89
    ** Including session gains, shares have risen 87.5% YTD

 (Reporting by Shashank Nayar in Bengaluru)
 ((Shashank.Nayar@thomsonreuters.com;))