TaskUs, Inc. (NASDAQ:TASK) Short Interest Update

TaskUs, Inc. (NASDAQ:TASK) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,240,000 shares, a drop of 21.0% from the October 31st total of 1,570,000 shares. Based on an average daily trading volume, of 233,400 shares, the short-interest ratio is presently 5.3 days. Approximately 7.2% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TASK. JPMorgan Chase & Co. decreased their target price on TaskUs from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Royal Bank of Canada raised their target price on TaskUs from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, August 9th. Citigroup raised their target price on TaskUs from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Robert W. Baird raised their target price on TaskUs from $16.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.43.

TaskUs Stock Down 2.2 %

Shares of NASDAQ:TASK traded down $0.33 during midday trading on Friday, hitting $14.66. 100,903 shares of the stock were exchanged, compared to its average volume of 222,835. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02. TaskUs has a 52-week low of $10.56 and a 52-week high of $19.60. The business’s fifty day simple moving average is $13.28 and its two-hundred day simple moving average is $13.88. The company has a market capitalization of $1.31 billion, a PE ratio of 24.85, a P/E/G ratio of 3.88 and a beta of 2.28.

Institutional Trading of TaskUs

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC raised its holdings in TaskUs by 24.9% during the third quarter. Barclays PLC now owns 24,774 shares of the company’s stock valued at $321,000 after buying an additional 4,945 shares in the last quarter. XTX Topco Ltd bought a new position in TaskUs during the third quarter valued at about $269,000. Jane Street Group LLC raised its holdings in TaskUs by 9.9% during the third quarter. Jane Street Group LLC now owns 21,761 shares of the company’s stock valued at $281,000 after buying an additional 1,959 shares in the last quarter. Quarry LP raised its holdings in TaskUs by 357.4% during the third quarter. Quarry LP now owns 13,567 shares of the company’s stock valued at $175,000 after buying an additional 10,601 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in TaskUs by 47.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company’s stock valued at $3,407,000 after buying an additional 84,988 shares in the last quarter. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

TaskUs Company Profile

TaskUs, Inc provides digital outsourcing services for companies in Philippines, the United States, India, and internationally. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through non-voice digital channels; and other solutions, including experience and customer care services for new product or market launches, and customer acquisition solutions.