Target Hospitality Corp. (NASDAQ:TH – Get Rating) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 4,640,000 shares, an increase of 27.8% from the July 15th total of 3,630,000 shares. Based on an average trading volume of 1,010,000 shares, the short-interest ratio is currently 4.6 days. Approximately 17.3% of the shares of the stock are short sold.
Target hospitality price performance
Shares of TH traded up $0.91 during midday trading on Friday, reaching $13.63. The stock had a trading volume of 1,043,267 shares, compared to its average volume of 614,573. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.67 and a quick ratio of 1.66. Target Hospitality has a 52 week low of $2.72 and a 52 week high of $14.86. The company has a market capitalization of $1.32 billion, a P/E ratio of 39.20, a P/E/G ratio of 0.71 and a beta of 2.59. The firm’s 50-day moving average price is $9.34 and its 200-day moving average price is $6.57.
Target Hospitality (NASDAQ:TH – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $80.34 million during the quarter, compared to analysts’ expectations of $79.77 million. Target Hospitality had a net margin of 9.10% and a return on equity of 31.74%. On average, analysts forecast that Target Hospitality will post 1.18 earnings per share for the current fiscal year.
Analyst’s Set New Price Targets
Separately, Oppenheimer increased their price objective on shares of Target Hospitality from $9.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 12th.
Institutional Trading of Target Hospitality
A number of institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in Target Hospitality in the 4th quarter valued at approximately $145,000. Hillsdale Investment Management Inc. bought a new position in Target Hospitality in the 4th quarter worth approximately $75,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Target Hospitality by 14.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,917 shares of the company’s stock worth $163,000 after buying an additional 5,834 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Target Hospitality during the fourth quarter worth about $60,000. Finally, Private Capital Management LLC grew its stake in Target Hospitality by 4.4% in the 4th quarter. Private Capital Management LLC now owns 5,119,772 shares of the company’s stock worth $18,226,000 after buying an additional 215,259 shares in the last quarter. 19.55% of the stock is currently owned by institutional investors.
About Target Hospitality
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Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through four segments: Hospitality & Facilities Services – South, Hospitality & Facilities Services – Midwest, Government, and TCPL Keystone. It owns a network of specialty rental accommodation units with approximately 15,528 beds across 27 communities, which include 26 owned and 1 leased; and operates 1 community not owned or leased by the company.
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