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

Custom Truck One Source, Inc. (NYSE:CTOS) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 5,090,000 shares, a growth of 9.7% from the August 31st total of 4,640,000 shares. Based on an average daily trading volume, of 672,900 shares, the short-interest ratio is presently 7.6 days. Approximately 9.3% of the company’s shares are sold short.

Insider Activity at Custom Truck One Source

In other Custom Truck One Source news, Director Energy Capital Partners Manage sold 18,640 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $4.17, for a total transaction of $77,728.80. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Custom Truck One Source news, Director Energy Capital Partners Manage sold 18,640 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $4.17, for a total transaction of $77,728.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the 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 transaction, the insider now directly owns 23,384,879 shares in the company, valued at approximately $79,976,286.18. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Maven Securities LTD acquired a new position in shares of Custom Truck One Source in the 2nd quarter valued at about $2,175,000. First Eagle Investment Management LLC acquired a new position in shares of Custom Truck One Source in the 2nd quarter worth approximately $1,328,000. Dimensional Fund Advisors LP grew its stake in shares of Custom Truck One Source by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,246,060 shares of the company’s stock worth $9,770,000 after purchasing an additional 410,895 shares during the last quarter. Black Diamond Financial LLC grew its stake in shares of Custom Truck One Source by 16.5% in the 2nd quarter. Black Diamond Financial LLC now owns 141,735 shares of the company’s stock worth $617,000 after purchasing an additional 20,100 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Custom Truck One Source in the 2nd quarter worth approximately $47,000. 90.07% of the stock is owned by institutional investors and hedge funds.

Custom Truck One Source Stock Down 4.6 %

CTOS stock traded down $0.16 during mid-day trading on Tuesday, hitting $3.29. 499,145 shares of the company were exchanged, compared to its average volume of 606,173. The company has a market capitalization of $790.98 million, a PE ratio of 32.90 and a beta of 0.63. The company has a current ratio of 1.30, a quick ratio of 0.20 and a debt-to-equity ratio of 1.78. Custom Truck One Source has a twelve month low of $3.26 and a twelve month high of $7.00. The firm has a fifty day simple moving average of $4.09 and a 200 day simple moving average of $4.59.

Custom Truck One Source (NYSE:CTOS) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The company 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%. Custom Truck One Source’s revenue was down 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 earnings per share. On average, research analysts forecast that Custom Truck One Source will post -0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CTOS shares. Oppenheimer cut their target price on shares of Custom Truck One Source from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut 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 research note on Wednesday, July 10th. Finally, Stifel Nicolaus started coverage on shares of Custom Truck One Source in a research note on Friday, June 14th. They issued a “hold” rating and a $5.50 target price on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.30.

About Custom Truck One Source

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).