Target Hospitality (NASDAQ:TH) Trading Down 6.2% – Here’s Why

Target Hospitality Corp. (NASDAQ:TH) was down 6.2% on Thursday . The stock traded as low as $9.17 and last traded at $9.19. Approximately 204,135 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 533,377 shares. The stock had previously closed at $9.80.

Analyst Ratings Changes

Several equities research analysts have weighed in on TH shares. Northland Securities increased their target price on Target Hospitality from $9.00 to $11.00 and gave the stock a “market perform” rating in a research report on Wednesday. Oppenheimer reissued a “market perform” rating on shares of Target Hospitality in a research note on Thursday.

Target Hospitality Stock Down 5.3 %

The company has a market cap of $931.99 million, a P/E ratio of 11.26, a PEG ratio of 1.06 and a beta of 2.09. The company has a 50 day moving average price of $8.39 and a 200-day moving average price of $9.29.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Intech Investment Management LLC bought a new position in Target Hospitality during the third quarter valued at about $87,000. Covestor Ltd lifted its holdings in shares of Target Hospitality by 13.9% during the first quarter. Covestor Ltd now owns 8,925 shares of the company’s stock valued at $97,000 after purchasing an additional 1,092 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Target Hospitality during the third quarter valued at $108,000. Quest Partners LLC lifted its holdings in shares of Target Hospitality by 4,201.9% during the second quarter. Quest Partners LLC now owns 13,508 shares of the company’s stock valued at $118,000 after purchasing an additional 13,194 shares during the last quarter. Finally, Bleakley Financial Group LLC purchased a new stake in shares of Target Hospitality during the first quarter valued at $122,000. Institutional investors own 32.40% of the company’s stock.

About Target Hospitality

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.