Could Heska Corporation (HSKA) Recover After Forming a Bearish Wedge Down?

February 15, 2018 - By Vivian Park

Investors sentiment increased to 1.26 in 2017 Q3. Its up 0.01, from 1.25 in 2017Q2. It is positive, as 16 investors sold Heska Corporation shares while 37 reduced holdings. 24 funds opened positions while 43 raised stakes. 5.53 million shares or 0.49% more from 5.51 million shares in 2017Q2 were reported.
Robeco Institutional Asset Management Bv reported 38,022 shares. Panagora Asset Mgmt Inc, a Massachusetts-based fund reported 5,709 shares. 23,549 are held by Clarivest Asset Mgmt Ltd Liability Com. Victory Capital Mgmt accumulated 0% or 1,257 shares. Aqr Capital Mgmt Ltd Llc invested in 36,073 shares or 0% of the stock. Navellier Associate has invested 0.09% in Heska Corporation (NASDAQ:HSKA). Fund Sa has 2,600 shares. Tower Rech Cap Lc (Trc) invested in 0.01% or 1,689 shares. Raymond James And Associates stated it has 0% in Heska Corporation (NASDAQ:HSKA). Putnam Ltd Liability Corporation holds 14,608 shares. Arizona State Retirement Systems has invested 0% of its portfolio in Heska Corporation (NASDAQ:HSKA). Great West Life Assurance Can has 9,200 shares. 3,099 are held by Stevens Cap Management Ltd Partnership. State Common Retirement Fund holds 9,597 shares. Tokio Marine Asset Ltd has invested 0.06% in Heska Corporation (NASDAQ:HSKA).

Since August 30, 2017, it had 0 insider buys, and 2 sales for $348,184 activity. On Wednesday, August 30 McMahon John sold $263,857 worth of Heska Corporation (NASDAQ:HSKA) or 2,608 shares.

The stock of Heska Corporation (HSKA) formed a down wedge with $55.36 target or 8.00 % below today’s $60.17 share price. The 6 months wedge indicates high risk for the $435.86M company. If the $55.36 price target is reached, the company will be worth $34.87M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 0.10% or $0.06 during the last trading session, reaching $60.17. About 153,565 shares traded or 87.46% up from the average. Heska Corporation (NASDAQ:HSKA) has risen 162.64% since February 15, 2017 and is uptrending. It has outperformed by 145.94% the S&P500.

Analysts await Heska Corporation (NASDAQ:HSKA) to report earnings on February, 27. They expect $0.60 EPS, up 30.43 % or $0.14 from last year’s $0.46 per share. HSKA’s profit will be $4.35M for 25.07 P/E if the $0.60 EPS becomes a reality. After $0.40 actual EPS reported by Heska Corporation for the previous quarter, Wall Street now forecasts 50.00 % EPS growth.

Heska Corporation (NASDAQ:HSKA) Ratings Coverage

Among 8 analysts covering Heska Corp (NASDAQ:HSKA), 4 have Buy rating, 0 Sell and 4 Hold. Therefore 50% are positive. Heska Corp had 13 analyst reports since August 25, 2015 according to SRatingsIntel. As per Tuesday, August 25, the company rating was upgraded by TheStreet. Benchmark initiated Heska Corporation (NASDAQ:HSKA) on Tuesday, November 29 with “Buy” rating. The stock of Heska Corporation (NASDAQ:HSKA) earned “Buy” rating by Benchmark on Wednesday, March 1. Gabelli downgraded the stock to “Hold” rating in Thursday, August 4 report. CL King downgraded Heska Corporation (NASDAQ:HSKA) on Thursday, January 26 to “Neutral” rating. CL King initiated the stock with “Neutral” rating in Friday, April 1 report. The company was maintained on Tuesday, August 1 by Gabelli.

More recent Heska Corporation (NASDAQ:HSKA) news were published by: Prnewswire.com which released: “Heska Announces 7-Year Agreement with PetVetCare Centers” on November 01, 2017. Also Seekingalpha.com published the news titled: “Heska’s Shares Offer Tremendous Growth At A Reasonable Price” on December 27, 2017. Prnewswire.com‘s news article titled: “Heska promotes Catherine Grassman to Vice President and Chief Accounting …” with publication date: December 01, 2017 was also an interesting one.

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