What’s Next for Horizon Global Corporation (HZN) After Forming Bearish Double Bottom Chart Pattern?

August 10, 2018 - By Rene Reddy

Horizon Global Corporation (NYSE:HZN) Logo

The chart of Horizon Global Corporation (HZN) shows a double bottom with $7.42 target or 6.00 % below today’s $7.89 share price. The 9 months chart pattern indicates high risk for the $198.01 million company. It was reported on Aug, 10 by Finviz.com. If the $7.42 price target is reached, the company will be worth $11.88 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 5.06% or $0.38 during the last trading session, reaching $7.89. About 436,223 shares traded. Horizon Global Corporation (NYSE:HZN) has declined 58.10% since August 10, 2017 and is downtrending. It has underperformed by 70.67% the S&P500.

Horizon Global Corporation (NYSE:HZN) Ratings Coverage

Among 5 analysts covering Horizon Global (NYSE:HZN), 4 have Buy rating, 1 Sell and 0 Hold. Therefore 80% are positive. Horizon Global had 7 analyst reports since March 9, 2018 according to SRatingsIntel. The firm has “Buy” rating given on Wednesday, August 8 by Roth Capital. FBR Capital maintained Horizon Global Corporation (NYSE:HZN) rating on Monday, June 25. FBR Capital has “Buy” rating and $10.5 target. The stock of Horizon Global Corporation (NYSE:HZN) earned “Buy” rating by Barrington on Friday, March 9. The firm has “Underperform” rating given on Friday, June 22 by Bank of America. On Friday, April 13 the stock rating was initiated by FBR Capital with “Buy”. Roth Capital downgraded Horizon Global Corporation (NYSE:HZN) on Friday, May 4 to “Hold” rating.

More notable recent Horizon Global Corporation (NYSE:HZN) news were published by: Benzinga.com which released: “64 Stocks Moving In Tuesday’s Mid-Day Session” on August 07, 2018, also Globenewswire.com with their article: “Market Trends Toward New Normal in Horizon Global, Bio-Techne, Adamis Pharmaceuticals, Kadant, Semgroup, and …” published on August 01, 2018, Benzinga.com published: “77 Biggest Movers From Yesterday” on August 08, 2018. More interesting news about Horizon Global Corporation (NYSE:HZN) were released by: Benzinga.com and their article: “50 Biggest Movers From Yesterday” published on July 31, 2018 as well as Benzinga.com‘s news article titled: “36 Stocks Moving In Tuesday’s Pre-Market Session” with publication date: August 07, 2018.

Horizon Global Corporation designs, makes, and distributes a range of towing, trailering, cargo management, and other related accessory products to the automotive aftermarket, retail, and original equipment channels worldwide. The company has market cap of $198.01 million. It operates through three divisions: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa. It currently has negative earnings. The firm provides towing products, such as hitches, fifth wheels, gooseneck hitches, weight distribution systems, wiring harnesses, draw bars, ball mounts, crossbars, towbars, security, and other towing accessories for attaching a trailer, camper, etc.

Horizon Global Corporation (NYSE:HZN) Ratings Chart

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