Competition regulators are currently evaluating Hewlett Packard Enterprise Co.’s $14 billion purchase of Juniper Networks. The UK government has opened an investigation into the deal due to potential competition concerns. Despite this news, HPE’s stock has been experiencing some volatility, with the stock trading flat at $21.87 at last glance.
HPE’s stock price has seen minimal decreases this month and hit a record high of $22.81 yesterday. The stock has a year-over-year lead of 31.2% and is currently trading above both long- and short-term moving averages.
Although there is some optimism among analysts, with 11 out of 14 firms rating the stock a “Hold,” the 12-month consensus price target of $20.42 is a 7.7% discount from the current levels.
In trading today, there has been high call volume, with 35,000 calls crossed so far, double the average intraday volume. The December 35 call is the most active contract, indicating new positions are being opened there.
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https://www.schaeffersresearch.com/content/news/2024/06/20/hewlett-packard-enterprise-stock-volatile-amid-uk-probe
HPE Stock Experiences Volatility Amid UK Investigation – Schaeffer’s Investment Research
