Custom Truck One Source, Inc. (NYSE:CTOS) Sees Significant Drop in Short Interest

Custom Truck One Source, Inc. (NYSE:CTOS) saw a significant drop in short interest in January. As of January 15th, there was short interest totalling 4,160,000 shares, a drop of 6.3% from the December 31st total of 4,440,000 shares. Based on an average trading volume of 611,200 shares, the short-interest ratio is currently 6.8 days. Currently, 7.1% of the shares of the stock are short sold.

Custom Truck One Source Price Performance

Shares of Custom Truck One Source stock traded down $0.18 during trading hours on Friday, reaching $5.11. 2,834,048 shares of the company’s stock were exchanged, compared to its average volume of 790,606. The company has a quick ratio of 0.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.87. The business has a fifty day moving average of $5.11 and a two-hundred day moving average of $4.46. Custom Truck One Source has a 1 year low of $3.03 and a 1 year high of $7.00. The company has a market capitalization of $1.19 billion, a P/E ratio of -31.94 and a beta of 0.79.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in shares of Custom Truck One Source in the 4th quarter worth $39,000. Intech Investment Management LLC acquired a new stake in shares of Custom Truck One Source in the third quarter valued at about $56,000. SG Americas Securities LLC acquired a new stake in shares of Custom Truck One Source in the third quarter valued at about $64,000. Platform Technology Partners acquired a new stake in shares of Custom Truck One Source in the fourth quarter valued at about $66,000. Finally, FMR LLC raised its position in Custom Truck One Source by 1,234.8% during the third quarter. FMR LLC now owns 28,846 shares of the company’s stock worth $100,000 after acquiring an additional 26,685 shares during the last quarter. 90.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Oppenheimer lowered their target price on shares of Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th.

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).