Short Interest in Custom Truck One Source, Inc. (NYSE:CTOS) Decreases By 5.5%

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

Analysts Set New Price Targets

A number of brokerages have commented on CTOS. JPMorgan Chase & Co. dropped their price objective on shares of Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Oppenheimer dropped 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 analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.88.

Custom Truck One Source Price Performance

CTOS stock opened at $3.39 on Friday. Custom Truck One Source has a 12 month low of $3.03 and a 12 month high of $7.00. The company has a current ratio of 1.30, a quick ratio of 0.20 and a debt-to-equity ratio of 1.78. The company has a 50-day moving average price of $3.78 and a 200 day moving average price of $4.42. The stock has a market cap of $815.02 million, a PE ratio of 33.90 and a beta of 0.62.

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

Insider Activity

In other news, Director Energy Capital Partners Manage sold 18,640 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $4.17, for a total transaction of $77,728.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Energy Capital Partners Manage sold 18,640 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $4.17, for a total transaction of $77,728.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Thomas R. Rich purchased 26,200 shares of Custom Truck One Source stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of $3.84 per share, for a total transaction of $100,608.00. Following the completion of the acquisition, the insider now owns 224,778 shares in the company, valued at $863,147.52. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 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 CTOS. Koshinski Asset Management Inc. purchased a new stake in Custom Truck One Source in the 1st quarter valued at about $58,000. Victory Capital Management Inc. purchased a new stake in Custom Truck One Source in the 2nd quarter valued at about $47,000. Cetera Advisors LLC purchased a new stake in Custom Truck One Source in the 1st quarter valued at about $68,000. MQS Management LLC purchased a new stake in Custom Truck One Source in the 1st quarter valued at about $75,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Custom Truck One Source by 21.3% in the 1st 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 period. 90.07% of the stock is owned by hedge funds and other institutional investors.

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).