Heico Stock Drops After Mixed Quarterly Report

Total options volume is running at a higher-than-usual rate

Jake Scott

Deputy Editor

Aug 27, 2024 at 10:19 AM

At last glance, shares of Heico Corp (NYSE:HEI) are 2.9% lower at $238.74 Tuesday, after the aerospace and defense firm yesterday reported a mixed fiscal third-quarter report. While Heico's quarterly earnings beat Wall Street's estimates, revenue fell below expectations even after the company noted strong organic growth in its Flight Support Group segment.

On the charts, HEI's 60-day moving average is keeping today's pullback in check. Looking further back, the equity closed below this trendline less than five times since the beginning of 2024. Plus, Heico stock is still trading close to its Aug. 15 record high of $258.84, and still boasts a 32.6% year-to-date gain.

Bullish bets have dominated over the last 10 weeks. Over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Heico stock's 50-day call/put volume ratio of 7.26 stands higher than all but 3% of readings from the past 12 months.

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