Custom Truck One Source (NYSE:CTOS) Trading 5.2% Higher Following Analyst Upgrade

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) shot up 5.2% during trading on Thursday after Oppenheimer raised their price target on the stock from $5.00 to $6.00. Oppenheimer currently has an outperform rating on the stock. Custom Truck One Source traded as high as $4.97 and last traded at $5.08. 166,219 shares were traded during mid-day trading, a decline of 78% from the average session volume of 762,715 shares. The stock had previously closed at $4.83.

Insider Buying and Selling at Custom Truck One Source

In other news, major shareholder Pe One Source Holdings, Llc bought 8,143,635 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was bought at an average cost of $4.00 per share, with a total value of $32,574,540.00. Following the transaction, the insider now directly owns 156,743,635 shares in the company, valued at $626,974,540. The trade was a 5.48 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CTOS. BNP Paribas Financial Markets purchased a new stake in Custom Truck One Source during the 4th quarter worth approximately $29,000. R Squared Ltd acquired a new stake in shares of Custom Truck One Source in the fourth quarter valued at $39,000. Intech Investment Management LLC purchased a new position in Custom Truck One Source in the third quarter valued at $56,000. KLP Kapitalforvaltning AS acquired a new position in Custom Truck One Source during the 4th quarter worth $56,000. Finally, Two Sigma Investments LP purchased a new stake in Custom Truck One Source during the 4th quarter worth about $63,000. Hedge funds and other institutional investors own 90.07% of the company’s stock.

Custom Truck One Source Stock Up 2.8 %

The business has a 50-day simple moving average of $4.84 and a 200-day simple moving average of $4.50. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.19 and a current ratio of 1.28. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -31.02 and a beta of 0.67.

About Custom Truck One Source

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).