Custom Truck One Source, Inc. (NYSE:CTOS) Short Interest Up 9.7% in September

Custom Truck One Source, Inc. (NYSE:CTOS) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 5,090,000 shares, an increase of 9.7% from the August 31st total of 4,640,000 shares. Currently, 9.3% of the shares of the company are short sold. Based on an average daily volume of 672,900 shares, the days-to-cover ratio is currently 7.6 days.

Analyst Ratings Changes

Several analysts have recently weighed in on CTOS shares. JPMorgan Chase & Co. lowered their target price on shares of Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating on the stock 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 report on Wednesday, August 7th. Finally, Stifel Nicolaus initiated coverage on Custom Truck One Source in a research report on Friday, June 14th. They set a “hold” rating and a $5.50 target price on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $6.30.

Custom Truck One Source Price Performance

Shares of NYSE CTOS traded down $0.16 during midday trading on Tuesday, hitting $3.29. The company had a trading volume of 499,145 shares, compared to its average volume of 606,173. The company has a quick ratio of 0.20, a current ratio of 1.30 and a debt-to-equity ratio of 1.78. The business has a 50-day simple moving average of $4.09 and a two-hundred day simple moving average of $4.59. Custom Truck One Source has a twelve month low of $3.26 and a twelve month high of $7.00. The firm has a market capitalization of $790.98 million, a price-to-earnings ratio of 32.90 and a beta of 0.63.

Custom Truck One Source (NYSE:CTOS) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, missing the consensus estimate 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 last year, the firm earned $0.05 EPS. Custom Truck One Source’s revenue was down 7.4% compared to the same quarter last year. Equities research analysts anticipate that Custom Truck One Source will post -0.12 earnings per share for the current year.

Insider Activity at Custom Truck One Source

In other news, insider Thomas R. Rich purchased 26,200 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $3.84 per share, with a total value of $100,608.00. Following the completion of the transaction, the insider now directly owns 224,778 shares in the company, valued at approximately $863,147.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Energy Capital Partners Manage sold 18,640 shares of the company’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 transaction of $77,728.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas R. Rich acquired 26,200 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $3.84 per share, for a total transaction of $100,608.00. Following the completion of the transaction, the insider now owns 224,778 shares in the company, valued at $863,147.52. The disclosure for this purchase can be found here. Insiders own 5.60% of the company’s stock.

Institutional Trading of Custom Truck One Source

Several large investors have recently bought and sold shares of CTOS. Quadrature Capital Ltd boosted its position in shares of Custom Truck One Source by 9.7% in the 4th quarter. Quadrature Capital Ltd now owns 29,875 shares of the company’s stock worth $184,000 after buying an additional 2,636 shares in the last quarter. Register Financial Advisors LLC grew its position in shares of Custom Truck One Source by 410.8% in the first quarter. Register Financial Advisors LLC now owns 179,300 shares of the company’s stock valued at $1,044,000 after purchasing an additional 144,200 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of Custom Truck One Source by 48.4% in the first quarter. GSA Capital Partners LLP now owns 285,810 shares of the company’s stock valued at $1,663,000 after purchasing an additional 93,267 shares during the last quarter. Heartland Advisors Inc. purchased a new position in shares of Custom Truck One Source during the 1st quarter worth approximately $2,456,000. Finally, Koshinski Asset Management Inc. acquired a new position in shares of Custom Truck One Source during the 1st quarter worth approximately $58,000. Institutional investors and hedge funds own 90.07% of the company’s stock.

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).