Hewlett Packard Enterprise Stock Volatile Amid U.K. Probe

The stock is fresh off a record high

Fernanda Horner

Digital Content Manager

Jun 20, 2024 at 10:47 AM

JNPR
HPE

Hewlett Packard Enterprise Co (NYSE:HPE) stock is seeing some volatility amid reports that the U.K. government opened a probe into its $14 billion buyout of Juniper Networks (JNPR) concerning potential competition issues. At last glance, the stock was trading flat, up 0.1% at $21.87.

Since the start of the month, HPE closed only three sessions lower, yesterday hitting a record high of $22.81. The stock boasts a 31.2% year-over-year lead, and is trading above most long- and short-term moving averages.

There's room for optimism among the brokerage bunch amid the outperformance, with 11 of 14 firms in coverage still calling the stock a tepid "hold," while the 12-month consensus target price of $20.42 is a 7.7% discount to current levels.

So far today, 35,000 calls have already crossed the tape, which is double the intraday average volume. The December 35 call is the most active contract, with new positions opening there.

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