Short Interest in Custom Truck One Source, Inc. (NYSE:CTOS) Declines By 8.5%

Custom Truck One Source, Inc. (NYSE:CTOS) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 4,210,000 shares, a decline of 8.5% from the October 31st total of 4,600,000 shares. Approximately 7.8% of the company’s shares are sold short. Based on an average trading volume of 628,600 shares, the days-to-cover ratio is presently 6.7 days.

Custom Truck One Source Price Performance

CTOS stock traded up $0.01 on Tuesday, reaching $5.80. 455,753 shares of the company’s stock were exchanged, compared to its average volume of 606,389. The stock has a fifty day moving average of $4.20 and a 200-day moving average of $4.31. Custom Truck One Source has a twelve month low of $3.03 and a twelve month high of $7.00. The firm has a market cap of $1.35 billion, a PE ratio of -36.25 and a beta of 0.78. The company has a quick ratio of 0.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.87.

Custom Truck One Source (NYSE:CTOS) last posted its earnings results on Wednesday, October 30th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The firm had revenue of $447.22 million during the quarter, compared to analyst estimates of $448.46 million. Custom Truck One Source had a negative net margin of 2.22% and a negative return on equity of 4.57%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company posted $0.04 EPS. As a group, equities analysts predict that Custom Truck One Source will post -0.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Oppenheimer reduced their price objective on Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Custom Truck One Source currently has an average rating of “Moderate Buy” and a consensus target price of $5.63.

Insider Buying and Selling at Custom Truck One Source

In related news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $3.42, for a total value of $8,051,052.78. Following the completion of the transaction, the insider now directly owns 23,384,879 shares of the company’s stock, valued at $79,976,286.18. This represents a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Custom Truck One Source

Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. acquired a new stake in shares of Custom Truck One Source during the second quarter valued at $47,000. Cetera Advisors LLC purchased a new position in Custom Truck One Source in the 1st quarter worth approximately $68,000. Intech Investment Management LLC acquired a new position in Custom Truck One Source in the 3rd quarter worth $56,000. Price T Rowe Associates Inc. MD raised its position in shares of Custom Truck One Source by 21.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,395 shares of the company’s stock valued at $96,000 after purchasing an additional 2,882 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Custom Truck One Source during the 3rd quarter valued at $64,000. Institutional investors and hedge funds own 90.07% of the company’s stock.

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).