Short Interest in Custom Truck One Source, Inc. (NYSE:CTOS) Increases By 6.2%

Custom Truck One Source, Inc. (NYSE:CTOS) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 4,470,000 shares, a growth of 6.2% from the November 15th total of 4,210,000 shares. Based on an average daily trading volume, of 575,900 shares, the days-to-cover ratio is presently 7.8 days. Approximately 8.3% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Oppenheimer cut their price target on Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.63.

Custom Truck One Source Stock Down 3.0 %

Shares of NYSE:CTOS traded down $0.16 during midday trading on Tuesday, reaching $5.09. The company had a trading volume of 589,966 shares, compared to its average volume of 606,243. The business’s 50 day moving average price is $4.65 and its 200 day moving average price is $4.37. Custom Truck One Source has a 1-year low of $3.03 and a 1-year high of $7.00. The company has a quick ratio of 0.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.87. The stock has a market cap of $1.19 billion, a PE ratio of -31.78 and a beta of 0.78.

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

Institutional Trading of Custom Truck One Source

A number of hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in shares of Custom Truck One Source by 21.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,395 shares of the company’s stock worth $96,000 after purchasing an additional 2,882 shares during the period. Cetera Advisors LLC acquired a new stake in shares of Custom Truck One Source during the first quarter worth $68,000. First Merchants Corp bought a new stake in shares of Custom Truck One Source in the second quarter valued at about $87,000. Bank of New York Mellon Corp grew its stake in shares of Custom Truck One Source by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 266,415 shares of the company’s stock valued at $1,159,000 after acquiring an additional 11,964 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Custom Truck One Source by 190.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,934,780 shares of the company’s stock worth $21,466,000 after acquiring an additional 3,234,586 shares during the period. 90.07% of the stock is owned by institutional investors and hedge funds.

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).