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Will Hi-Crush Partners Stock Gain Upward Momentum?

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Stock is higher in 2018

So far, Hi-Crush Partners (HCLP) stock has risen 14% in 2018. Hi-Crush Partners outperformed its peers Emerge Energy Services (EMES), Fairmount Santrol Holdings (FMSA), and U.S. Silica Holdings (SLCA) during this period. While Emerge Energy Services has risen 6%, Fairmount Santrol Holdings and U.S. Silica Holdings have fallen 3% and 8%, respectively, year-to-date. The Alerian MLP ETF (AMLP) has fallen 4% in 2018.

The above graph compares Hi-Crush Partners’ stock performance with Emerge Energy Services, Fairmount Santrol Holdings, and U.S. Silica Holdings.

Notably, Hi-Crush Partners stock fell more than 40% in the past year. Emerge Energy Services, Fairmount Santrol Holdings, and U.S. Silica Holdings have fallen 67%, 58%, and 47%, respectively, during the same period.

The strength in crude oil prices in the last six months lifted these frac sand stocks during this period.

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Moving averages

Hi-Crush Partners stock is trading 5% above its 50-day moving average and 19% above its 200-day moving average. Hi-Crush Partners’ 50-day moving average crossed above its 200-day level in January 2018—a bullish indicator. Hi-Crush Partners’ 200-day moving average level might act as a support for the stock in the near term.

Short interest in Hi-Crush Partners

According to data released on February 9, 2018, the short interest in Hi-Crush Partners has risen 14%. The number of Hi-Crush Partners’ shares shorted rose from 4.8 million on January 12, 2018, to 5.5 million on January 31, 2018. The short interest in Hi-Crush Partners as a percentage of its float is 7.9%. The short interest ratio for Hi-Crush Partners is 2x, which means that it will take nearly two days to cover all of the open short positions in Hi-Crush Partners.

Next, we’ll discuss Wall Street analysts’ recommendations and Hi-Crush Partners’ outlook.

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