Custom Truck One Source, Inc. (NYSE:CTOS) Sees Large Decrease in Short Interest

Custom Truck One Source, Inc. (NYSE:CTOS) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 4,810,000 shares, a decline of 5.5% from the September 15th total of 5,090,000 shares. Based on an average daily trading volume, of 649,000 shares, the short-interest ratio is presently 7.4 days. Approximately 8.8% of the company’s shares are short sold.

Insider Buying and Selling at Custom Truck One Source

In other Custom Truck One Source news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $3.42, for a total transaction of $8,051,052.78. Following the completion of the transaction, the insider now owns 23,384,879 shares in the company, valued at $79,976,286.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Energy Capital Partners Manage sold 18,640 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $4.17, for a total value of $77,728.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $3.42, for a total value of $8,051,052.78. Following the completion of the sale, the insider now owns 23,384,879 shares of the company’s stock, valued at $79,976,286.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Custom Truck One Source

A number of large investors have recently made changes to their positions in the business. Quadrature Capital Ltd grew its holdings in shares of Custom Truck One Source by 9.7% during the fourth quarter. Quadrature Capital Ltd now owns 29,875 shares of the company’s stock valued at $184,000 after buying an additional 2,636 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Custom Truck One Source by 21.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,395 shares of the company’s stock valued at $96,000 after buying an additional 2,882 shares during the last quarter. Koshinski Asset Management Inc. purchased a new stake in shares of Custom Truck One Source during the first quarter valued at $58,000. Sendero Wealth Management LLC grew its holdings in shares of Custom Truck One Source by 6.5% during the second quarter. Sendero Wealth Management LLC now owns 162,800 shares of the company’s stock valued at $708,000 after buying an additional 10,000 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Custom Truck One Source during the second quarter valued at $47,000. 90.07% of the stock is owned by institutional investors and hedge funds.

Custom Truck One Source Stock Performance

Shares of NYSE:CTOS opened at $3.37 on Friday. The firm has a 50 day moving average of $3.77 and a 200 day moving average of $4.40. The company has a market capitalization of $809.01 million, a price-to-earnings ratio of 33.65 and a beta of 0.62. The company has a quick ratio of 0.20, a current ratio of 1.30 and a debt-to-equity ratio of 1.78. Custom Truck One Source has a 52 week low of $3.03 and a 52 week high of $7.00.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.09). The business had revenue of $423.00 million for the quarter, compared to analyst estimates of $456.23 million. Custom Truck One Source had a negative return on equity of 1.51% and a negative net margin of 0.75%. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share. On average, sell-side analysts predict that Custom Truck One Source will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Oppenheimer reduced their price objective on shares of Custom Truck One Source from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.88.

Custom Truck One Source Company Profile

Custom Truck One Source, Inc provides specialty equipment rental and sale services to the electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in the United States and Canada. The company operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS).