Short Interest in Custom Truck One Source, Inc. (NYSE:CTOS) Drops By 6.3%

Custom Truck One Source, Inc. (NYSE:CTOS) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 4,160,000 shares, a decrease of 6.3% from the December 15th total of 4,440,000 shares. Approximately 7.1% of the shares of the stock are sold short. Based on an average trading volume of 611,200 shares, the short-interest ratio is currently 6.8 days.

Analysts Set New Price Targets

Separately, Oppenheimer reduced their target price on Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th.

Institutional Investors Weigh In On Custom Truck One Source

Several hedge funds have recently made changes to their positions in CTOS. Black Diamond Financial LLC lifted its position in Custom Truck One Source by 906.8% during the third quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock worth $4,923,000 after buying an additional 1,285,265 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Custom Truck One Source by 15.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,626 shares of the company’s stock valued at $378,000 after buying an additional 14,906 shares during the period. First Eagle Investment Management LLC purchased a new stake in shares of Custom Truck One Source during the 2nd quarter valued at $1,328,000. Maven Securities LTD acquired a new stake in shares of Custom Truck One Source during the 2nd quarter worth $2,175,000. Finally, FMR LLC raised its position in shares of Custom Truck One Source by 1,234.8% in the 3rd quarter. FMR LLC now owns 28,846 shares of the company’s stock worth $100,000 after buying an additional 26,685 shares during the period. Institutional investors and hedge funds own 90.07% of the company’s stock.

Custom Truck One Source Price Performance

NYSE:CTOS traded up $0.13 during trading hours on Monday, reaching $4.76. 526,705 shares of the company traded hands, compared to its average volume of 563,879. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.28 and a quick ratio of 0.19. The firm’s 50-day moving average is $5.11 and its 200-day moving average is $4.41. The stock has a market cap of $1.11 billion, a P/E ratio of -29.72 and a beta of 0.79. Custom Truck One Source has a 1-year low of $3.03 and a 1-year high of $7.00.

Custom Truck One Source (NYSE:CTOS) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The firm had revenue of $447.22 million for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.04 EPS. Equities research analysts expect that Custom Truck One Source will post -0.21 earnings per share for the current fiscal year.

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).