Target Hospitality (NASDAQ:TH) Shares Down 3.9% – Here’s What Happened

Target Hospitality Corp. (NASDAQ:TH) shares traded down 3.9% during mid-day trading on Friday . The stock traded as low as $9.92 and last traded at $9.96. 208,728 shares changed hands during trading, a decline of 62% from the average session volume of 555,703 shares. The stock had previously closed at $10.36.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Oppenheimer restated a “market perform” rating on shares of Target Hospitality in a research report on Thursday, November 14th. Northland Securities upped their price target on shares of Target Hospitality from $9.00 to $11.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th.

Target Hospitality Stock Down 3.8 %

The business has a fifty day moving average price of $9.23 and a 200-day moving average price of $9.00. The company has a market cap of $986.53 million, a P/E ratio of 11.46, a PEG ratio of 1.90 and a beta of 2.07.

Institutional Investors Weigh In On Target Hospitality

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC bought a new position in shares of Target Hospitality in the 3rd quarter valued at $87,000. SG Americas Securities LLC acquired a new position in Target Hospitality in the 3rd quarter worth about $108,000. The Manufacturers Life Insurance Company raised its position in Target Hospitality by 11.9% in the second quarter. The Manufacturers Life Insurance Company now owns 14,480 shares of the company’s stock valued at $126,000 after purchasing an additional 1,540 shares during the last quarter. Creative Planning acquired a new stake in shares of Target Hospitality during the third quarter valued at about $145,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Target Hospitality by 48.5% during the third quarter. Victory Capital Management Inc. now owns 37,504 shares of the company’s stock valued at $292,000 after purchasing an additional 12,242 shares in the last quarter. 32.40% of the stock is currently owned by institutional investors.

Target Hospitality Company Profile

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services – South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.