Target Hospitality (NASDAQ:TH) Shares Gap Up – Here’s What Happened

Target Hospitality Corp. (NASDAQ:TH) shares gapped up prior to trading on Thursday . The stock had previously closed at $5.54, but opened at $6.24. Target Hospitality shares last traded at $6.11, with a volume of 431,253 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TH. Oppenheimer reissued a “market perform” rating on shares of Target Hospitality in a report on Thursday, November 14th. Northland Capmk raised shares of Target Hospitality from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Northland Securities raised Target Hospitality from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $11.00 to $15.00 in a report on Wednesday, January 29th. Finally, Stifel Nicolaus dropped their price target on Target Hospitality from $10.00 to $5.00 and set a “hold” rating for the company in a report on Wednesday, February 26th.

Target Hospitality Trading Up 6.4 %

The stock has a market cap of $583.26 million, a P/E ratio of 6.78, a price-to-earnings-growth ratio of 1.81 and a beta of 2.15. The business’s fifty day simple moving average is $9.04 and its 200 day simple moving average is $8.80.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Conversant Capital LLC lifted its position in Target Hospitality by 2.1% during the 4th quarter. Conversant Capital LLC now owns 4,889,046 shares of the company’s stock valued at $47,253,000 after purchasing an additional 100,000 shares during the period. Vanguard Group Inc. raised its stake in shares of Target Hospitality by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 1,965,362 shares of the company’s stock worth $18,995,000 after buying an additional 79,561 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Target Hospitality by 10.1% in the third quarter. HighTower Advisors LLC now owns 1,466,356 shares of the company’s stock valued at $11,408,000 after buying an additional 134,966 shares during the period. Empyrean Capital Partners LP bought a new position in Target Hospitality in the fourth quarter valued at approximately $9,781,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Target Hospitality by 32.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,008,702 shares of the company’s stock worth $9,749,000 after acquiring an additional 245,252 shares during the period. Institutional investors and hedge funds own 32.40% of the company’s stock.

About Target Hospitality

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.