Custom Truck One Source, Inc. (NYSE:CTOS) Short Interest Up 14.2% in June

Custom Truck One Source, Inc. (NYSE:CTOS) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 4,030,000 shares, a growth of 14.2% from the May 31st total of 3,530,000 shares. Based on an average daily volume of 673,100 shares, the short-interest ratio is presently 6.0 days. Currently, 4.8% of the company’s stock are short sold.

Insider Activity

In other Custom Truck One Source news, Director Marshall Heinberg acquired 40,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were bought at an average cost of $4.07 per share, for a total transaction of $162,800.00. Following the completion of the acquisition, the director now directly owns 293,856 shares of the company’s stock, valued at $1,195,993.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Ryan Mcmonagle bought 10,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average cost of $4.04 per share, for a total transaction of $40,400.00. Following the completion of the acquisition, the chief executive officer now owns 496,587 shares in the company, valued at $2,006,211.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marshall Heinberg bought 40,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were purchased at an average price of $4.07 per share, for a total transaction of $162,800.00. Following the completion of the acquisition, the director now owns 293,856 shares of the company’s stock, valued at approximately $1,195,993.92. The disclosure for this purchase can be found here. Insiders have acquired 73,000 shares of company stock worth $293,560 over the last ninety days. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Custom Truck One Source

Several institutional investors and hedge funds have recently modified their holdings of CTOS. Heartland Advisors Inc. acquired a new stake in Custom Truck One Source during the first quarter worth about $2,456,000. Paloma Partners Management Co acquired a new stake in Custom Truck One Source during the first quarter worth about $1,193,000. Canvas Wealth Advisors LLC grew its stake in Custom Truck One Source by 4.8% during the fourth quarter. Canvas Wealth Advisors LLC now owns 3,413,242 shares of the company’s stock worth $21,299,000 after buying an additional 156,010 shares in the last quarter. Register Financial Advisors LLC grew its stake in Custom Truck One Source by 410.8% during the first quarter. Register Financial Advisors LLC now owns 179,300 shares of the company’s stock worth $1,044,000 after buying an additional 144,200 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in Custom Truck One Source by 48.4% during the first quarter. GSA Capital Partners LLP now owns 285,810 shares of the company’s stock worth $1,663,000 after buying an additional 93,267 shares in the last quarter. 90.07% of the stock is currently owned by institutional investors and hedge funds.

Custom Truck One Source Stock Performance

Shares of CTOS stock traded up $0.10 on Wednesday, hitting $4.30. The company’s stock had a trading volume of 304,842 shares, compared to its average volume of 582,260. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.22 and a current ratio of 1.34. The stock’s 50 day moving average is $4.58 and its 200-day moving average is $5.58. Custom Truck One Source has a fifty-two week low of $3.61 and a fifty-two week high of $7.53. The company has a market capitalization of $1.03 billion, a PE ratio of 42.00 and a beta of 0.70.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Custom Truck One Source had a net margin of 1.24% and a return on equity of 2.48%. The business had revenue of $411.31 million during the quarter, compared to analyst estimates of $455.98 million. During the same quarter last year, the company posted $0.06 earnings per share. The company’s revenue was down 9.0% on a year-over-year basis. Equities research analysts expect that Custom Truck One Source will post 0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Custom Truck One Source from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Oppenheimer dropped their price objective on shares of Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Robert W. Baird dropped their price objective on shares of Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Finally, Stifel Nicolaus started coverage on shares of Custom Truck One Source in a research report on Friday, June 14th. They issued a “hold” rating and a $5.50 price objective on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.42.

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).