Mammoth Energy Services (NASDAQ:TUSK) Share Price Crosses Below Fifty Day Moving Average – Here’s Why

Mammoth Energy Services, Inc. (NASDAQ:TUSK)’s share price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $2.63 and traded as low as $2.07. Mammoth Energy Services shares last traded at $2.26, with a volume of 106,309 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Mammoth Energy Services from a “sell” rating to a “hold” rating in a research note on Friday, December 27th.

Mammoth Energy Services Trading Up 5.6 %

The company has a debt-to-equity ratio of 0.18, a current ratio of 2.25 and a quick ratio of 2.13. The business’s fifty day simple moving average is $2.63 and its 200 day simple moving average is $3.27. The stock has a market cap of $108.77 million, a price-to-earnings ratio of -0.55 and a beta of 1.53.

Mammoth Energy Services (NASDAQ:TUSK) last posted its quarterly earnings results on Friday, March 7th. The energy company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.31). The business had revenue of $53.20 million during the quarter, compared to analyst estimates of $39.50 million. Mammoth Energy Services had a negative net margin of 105.49% and a negative return on equity of 53.85%.

Institutional Trading of Mammoth Energy Services

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. bought a new position in Mammoth Energy Services during the 4th quarter worth $30,000. Occudo Quantitative Strategies LP acquired a new stake in shares of Mammoth Energy Services in the 4th quarter worth about $41,000. Marshall Wace LLP acquired a new stake in shares of Mammoth Energy Services in the 4th quarter worth about $42,000. FMR LLC lifted its position in Mammoth Energy Services by 32.7% in the 3rd quarter. FMR LLC now owns 10,967 shares of the energy company’s stock valued at $45,000 after purchasing an additional 2,705 shares during the last quarter. Finally, PDT Partners LLC acquired a new position in Mammoth Energy Services during the 4th quarter valued at about $46,000. 79.67% of the stock is currently owned by institutional investors and hedge funds.

About Mammoth Energy Services

Mammoth Energy Services, Inc operates as an energy services company in the United States, Canada, and internationally. The company operates in four segments: Well Completion Services, Infrastructure Services, Natural Sand Proppant Services, and Drilling Services. The company offers pressure pumping and hydraulic fracturing, sand hauling, and water transfer services; and master services agreements.