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

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TASK. Barclays PLC lifted its holdings in shares of TaskUs by 24.9% during the 3rd quarter. Barclays PLC now owns 24,774 shares of the company’s stock worth $321,000 after acquiring an additional 4,945 shares during the last quarter. XTX Topco Ltd bought a new stake in TaskUs in the 3rd quarter worth approximately $269,000. Jane Street Group LLC boosted its stake in TaskUs by 9.9% in the third quarter. Jane Street Group LLC now owns 21,761 shares of the company’s stock worth $281,000 after buying an additional 1,959 shares in the last quarter. Quarry LP grew its position in TaskUs by 357.4% during the third quarter. Quarry LP now owns 13,567 shares of the company’s stock valued at $175,000 after acquiring an additional 10,601 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of TaskUs by 47.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company’s stock worth $3,407,000 after acquiring an additional 84,988 shares in the last quarter. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Robert W. Baird boosted their target price on shares of 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 on the stock in a report on Friday, September 6th. Citigroup raised their target price on TaskUs from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada upped their price target on TaskUs from $17.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.43.

TaskUs Price Performance

TaskUs stock opened at $14.99 on Friday. 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. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50. The business has a 50-day simple moving average of $13.19 and a 200 day simple moving average of $13.87. TaskUs has a 52 week low of $10.56 and a 52 week high of $19.60.

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.