Short Interest in TaskUs, Inc. (NASDAQ:TASK) Declines By 21.0%

TaskUs, Inc. (NASDAQ:TASK) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,240,000 shares, a decrease of 21.0% from the October 31st total of 1,570,000 shares. Currently, 7.2% of the company’s shares are sold short. Based on an average daily trading volume, of 233,400 shares, the days-to-cover ratio is presently 5.3 days.

Institutional Investors Weigh In On TaskUs

Several hedge funds have recently made changes to their positions in TASK. nVerses Capital LLC purchased a new position in TaskUs during the second quarter valued at $28,000. US Bancorp DE increased its stake in shares of TaskUs by 101.2% in the 3rd quarter. US Bancorp DE now owns 5,001 shares of the company’s stock worth $65,000 after acquiring an additional 2,516 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of TaskUs by 55.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,581 shares of the company’s stock worth $74,000 after acquiring an additional 1,988 shares in the last quarter. CWM LLC lifted its position in TaskUs by 25,053.3% during the 3rd quarter. CWM LLC now owns 7,546 shares of the company’s stock valued at $97,000 after acquiring an additional 7,516 shares during the period. Finally, Quantbot Technologies LP boosted its stake in TaskUs by 186.7% during the third quarter. Quantbot Technologies LP now owns 9,428 shares of the company’s stock worth $122,000 after acquiring an additional 6,140 shares in the last quarter. 44.64% of the stock is currently owned by institutional investors.

TaskUs Stock Performance

TaskUs stock opened at $14.99 on Friday. TaskUs has a fifty-two week low of $10.56 and a fifty-two week high of $19.60. The stock’s 50 day simple moving average is $13.19 and its two-hundred day simple moving average is $13.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 3.88 and a beta of 2.28.

Wall Street Analyst Weigh In

TASK has been the topic of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of TaskUs from $17.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, August 9th. Robert W. Baird boosted their price target on TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on TaskUs from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Finally, Citigroup lifted their price objective on TaskUs from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, TaskUs has an average rating of “Hold” and a consensus price target of $16.43.

About TaskUs

TaskUs, Inc provides digital outsourcing services for companies in Philippines, the United States, India, and internationally. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through non-voice digital channels; and other solutions, including experience and customer care services for new product or market launches, and customer acquisition solutions.