Target Hospitality Corp. (NASDAQ:TH) Short Interest Down 35.5% in November

Target Hospitality Corp. (NASDAQ:TH) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 1,070,000 shares, a decline of 35.5% from the October 31st total of 1,660,000 shares. Based on an average daily trading volume, of 430,500 shares, the short-interest ratio is presently 2.5 days. Approximately 3.4% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. SummerHaven Investment Management LLC boosted its holdings in Target Hospitality by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 59,584 shares of the company’s stock valued at $519,000 after acquiring an additional 1,318 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Target Hospitality by 11.9% in the 2nd 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. Rhumbline Advisers increased its position in shares of Target Hospitality by 5.9% during the second quarter. Rhumbline Advisers now owns 46,867 shares of the company’s stock worth $408,000 after buying an additional 2,613 shares during the period. Principal Financial Group Inc. raised its stake in Target Hospitality by 13.3% during the second quarter. Principal Financial Group Inc. now owns 30,221 shares of the company’s stock worth $263,000 after buying an additional 3,556 shares during the last quarter. Finally, AdvisorShares Investments LLC raised its stake in Target Hospitality by 33.2% during the second quarter. AdvisorShares Investments LLC now owns 22,589 shares of the company’s stock worth $192,000 after buying an additional 5,624 shares during the last quarter. Institutional investors and hedge funds own 32.40% of the company’s stock.

Target Hospitality Stock Down 0.4 %

Shares of TH stock traded down $0.03 on Friday, reaching $8.27. The company had a trading volume of 141,028 shares, compared to its average volume of 528,412. Target Hospitality has a one year low of $6.11 and a one year high of $11.84. The stock has a market capitalization of $818.23 million, a PE ratio of 9.51, a price-to-earnings-growth ratio of 0.85 and a beta of 2.09. The business’s 50-day moving average is $8.09 and its 200 day moving average is $9.08.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TH. Northland Securities boosted their target price on Target Hospitality from $9.00 to $11.00 and gave the stock a “market perform” rating in a report on Wednesday, November 13th. Oppenheimer reissued a “market perform” rating on shares of Target Hospitality in a report on Thursday, November 14th.

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.