Target Hospitality (NASDAQ:TH) Shares Up 7.9% – Here’s What Happened

Target Hospitality Corp. (NASDAQ:TH) shares shot up 7.9% during mid-day trading on Tuesday . The stock traded as high as $5.62 and last traded at $5.45. 476,609 shares changed hands during trading, a decline of 47% from the average session volume of 892,374 shares. The stock had previously closed at $5.05.

Analyst Ratings Changes

TH has been the subject of several analyst reports. Northland Securities upgraded Target Hospitality from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $11.00 to $15.00 in a research report on Wednesday, January 29th. Northland Capmk upgraded Target Hospitality from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Target Hospitality in a research report on Thursday, November 14th.

Target Hospitality Price Performance

The business has a 50 day simple moving average of $9.58 and a 200 day simple moving average of $9.01. The company has a market capitalization of $536.26 million, a price-to-earnings ratio of 6.23, a PEG ratio of 1.81 and a beta of 2.07.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in Target Hospitality in the third quarter valued at $108,000. Creative Planning acquired a new stake in shares of Target Hospitality during the third quarter worth about $145,000. Victory Capital Management Inc. grew its holdings in shares of Target Hospitality by 48.5% during the third quarter. Victory Capital Management Inc. now owns 37,504 shares of the company’s stock worth $292,000 after buying an additional 12,242 shares during the last quarter. Intech Investment Management LLC acquired a new position in Target Hospitality in the 3rd quarter valued at about $87,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Target Hospitality by 28.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 271,590 shares of the company’s stock valued at $2,113,000 after acquiring an additional 60,569 shares during the last quarter. Hedge funds and other institutional investors own 32.40% of the company’s stock.

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.