Custom Truck One Source, Inc. (NYSE:CTOS) Short Interest Down 8.5% in November

Custom Truck One Source, Inc. (NYSE:CTOS) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 4,210,000 shares, a decline of 8.5% from the October 31st total of 4,600,000 shares. Approximately 7.8% of the company’s stock are sold short. Based on an average trading volume of 628,600 shares, the short-interest ratio is presently 6.7 days.

Insider Activity at Custom Truck One Source

In related news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $3.42, for a total transaction of $8,051,052.78. Following the transaction, the insider now owns 23,384,879 shares in the company, valued at $79,976,286.18. The trade was a 9.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Custom Truck One Source

Institutional investors have recently made changes to their positions in the company. Black Diamond Financial LLC grew its position in Custom Truck One Source by 906.8% during the third quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock valued at $4,923,000 after buying an additional 1,285,265 shares during the period. First Eagle Investment Management LLC bought a new position in Custom Truck One Source during the second quarter valued at about $1,328,000. Maven Securities LTD bought a new position in Custom Truck One Source during the second quarter valued at about $2,175,000. Allspring Global Investments Holdings LLC grew 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 valued at $21,466,000 after buying an additional 3,234,586 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Custom Truck One Source by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,246,060 shares of the company’s stock valued at $9,770,000 after buying an additional 410,895 shares during the period. Institutional investors own 90.07% of the company’s stock.

Custom Truck One Source Stock Performance

CTOS traded down $0.09 during trading on Wednesday, hitting $5.71. 144,579 shares of the company’s stock were exchanged, compared to its average volume of 604,359. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.19 and a current ratio of 1.28. The business’s 50 day moving average is $4.20 and its two-hundred day moving average is $4.31. Custom Truck One Source has a fifty-two week low of $3.03 and a fifty-two week high of $7.00.

Custom Truck One Source (NYSE:CTOS) last posted its earnings results on Wednesday, October 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Custom Truck One Source had a negative return on equity of 4.57% and a negative net margin of 2.22%. The firm had revenue of $447.22 million during the quarter, compared to the consensus estimate of $448.46 million. During the same quarter in the previous year, the company earned $0.04 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts predict that Custom Truck One Source will post -0.21 EPS for the current year.

Wall Street Analyst Weigh In

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

Custom Truck One Source Company Profile

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).