Custom Truck One Source (NYSE:CTOS) Trading Down 7.8% – What’s Next?

Custom Truck One Source, Inc. (NYSE:CTOS) traded down 7.8% during trading on Wednesday . The company traded as low as $4.80 and last traded at $4.81. 246,076 shares were traded during mid-day trading, a decline of 67% from the average session volume of 750,470 shares. The stock had previously closed at $5.21.

Analyst Ratings Changes

Separately, Oppenheimer raised their price objective on Custom Truck One Source from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th.

Custom Truck One Source Stock Down 4.2 %

The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -27.83 and a beta of 0.67. The firm has a 50 day moving average of $4.88 and a 200 day moving average of $4.57. The company has a quick ratio of 0.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.87.

Insider Activity

In other news, major shareholder Pe One Source Holdings, Llc purchased 8,143,635 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were acquired at an average price of $4.00 per share, for a total transaction of $32,574,540.00. Following the completion of the acquisition, the insider now owns 156,743,635 shares in the company, valued at approximately $626,974,540. The trade was a 5.48 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Custom Truck One Source

A number of institutional investors have recently modified their holdings of CTOS. BNP Paribas Financial Markets bought a new position in shares of Custom Truck One Source in the fourth quarter valued at $29,000. R Squared Ltd bought a new position in Custom Truck One Source in the 4th quarter valued at about $39,000. KLP Kapitalforvaltning AS acquired a new position in Custom Truck One Source during the 4th quarter valued at about $56,000. Two Sigma Investments LP bought a new stake in Custom Truck One Source during the 4th quarter worth approximately $63,000. Finally, Platform Technology Partners purchased a new stake in shares of Custom Truck One Source in the fourth quarter worth approximately $66,000. 90.07% of the stock is owned by institutional investors and hedge funds.

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).