Custom Truck One Source, Inc. (NYSE:CTOS) Sees Significant Increase in Short Interest

Custom Truck One Source, Inc. (NYSE:CTOS) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 4,030,000 shares, a growth of 14.2% from the May 31st total of 3,530,000 shares. Currently, 4.8% of the company’s shares are sold short. Based on an average daily volume of 673,100 shares, the short-interest ratio is currently 6.0 days.

Insider Transactions at Custom Truck One Source

In other Custom Truck One Source news, Director Marshall Heinberg purchased 40,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was purchased at an average cost of $4.07 per share, for a total transaction of $162,800.00. Following the acquisition, the director now owns 293,856 shares in the company, valued at approximately $1,195,993.92. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Ryan Mcmonagle bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average cost of $4.04 per share, with a total value of $40,400.00. Following the completion of the purchase, the chief executive officer now directly owns 496,587 shares in the company, valued at $2,006,211.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marshall Heinberg purchased 40,000 shares of Custom Truck One Source stock in a transaction on Tuesday, May 7th. The stock was bought at an average price of $4.07 per share, with a total value of $162,800.00. Following the completion of the acquisition, the director now directly owns 293,856 shares of the company’s stock, valued at approximately $1,195,993.92. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 73,000 shares of company stock worth $293,560. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canvas Wealth Advisors LLC grew its position in Custom Truck One Source by 4.8% during the fourth quarter. Canvas Wealth Advisors LLC now owns 3,413,242 shares of the company’s stock valued at $21,299,000 after buying an additional 156,010 shares during the period. Vanguard Group Inc. grew its stake in Custom Truck One Source by 1.6% during the third quarter. Vanguard Group Inc. now owns 3,251,103 shares of the company’s stock valued at $20,157,000 after acquiring an additional 52,437 shares in the last quarter. Register Financial Advisors LLC increased its holdings in Custom Truck One Source by 602.0% during the 4th quarter. Register Financial Advisors LLC now owns 35,100 shares of the company’s stock worth $217,000 after acquiring an additional 30,100 shares during the period. SG Americas Securities LLC lifted its stake in Custom Truck One Source by 330.2% in the 4th quarter. SG Americas Securities LLC now owns 84,169 shares of the company’s stock worth $520,000 after purchasing an additional 64,606 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Custom Truck One Source during the third quarter valued at $169,000. 90.07% of the stock is currently owned by hedge funds and other institutional investors.

Custom Truck One Source Stock Up 2.4 %

Shares of CTOS stock traded up $0.10 during trading hours on Wednesday, reaching $4.30. The company had a trading volume of 280,360 shares, compared to its average volume of 582,067. The business has a fifty day simple moving average of $4.58 and a 200-day simple moving average of $5.58. Custom Truck One Source has a 12 month low of $3.61 and a 12 month high of $7.53. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 42.00 and a beta of 0.70. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.34 and a quick ratio of 0.22.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Custom Truck One Source had a net margin of 1.24% and a return on equity of 2.48%. The company had revenue of $411.31 million for the quarter, compared to the consensus estimate of $455.98 million. During the same quarter last year, the business posted $0.06 earnings per share. Custom Truck One Source’s revenue was down 9.0% on a year-over-year basis. On average, research analysts expect that Custom Truck One Source will post 0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CTOS shares. Oppenheimer reduced their target price on Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. JPMorgan Chase & Co. reduced their price objective on Custom Truck One Source from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Stifel Nicolaus started 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. Finally, Robert W. Baird reduced their price target on shares of Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.42.

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).