Short Interest in Custom Truck One Source, Inc. (NYSE:CTOS) Expands By 6.2%

Custom Truck One Source, Inc. (NYSE:CTOS) saw a large growth in short interest in November. As of November 30th, there was short interest totalling 4,470,000 shares, a growth of 6.2% from the November 15th total of 4,210,000 shares. Based on an average trading volume of 575,900 shares, the short-interest ratio is currently 7.8 days. Approximately 8.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Oppenheimer reduced their price objective on Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Custom Truck One Source has an average rating of “Moderate Buy” and an average target price of $5.63.

Institutional Investors Weigh In On Custom Truck One Source

Institutional investors have recently added to or reduced their stakes in the company. Black Diamond Financial LLC lifted its stake in Custom Truck One Source by 906.8% in the 3rd quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock worth $4,923,000 after acquiring an additional 1,285,265 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in shares of Custom Truck One Source in the 2nd quarter valued at about $1,328,000. Maven Securities LTD acquired a new position in shares of Custom Truck One Source in the 2nd quarter valued at about $2,175,000. Allspring Global Investments Holdings LLC lifted its position in shares of Custom Truck One Source by 190.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,934,780 shares of the company’s stock worth $21,466,000 after purchasing an additional 3,234,586 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of 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 worth $9,770,000 after purchasing an additional 410,895 shares during the period. 90.07% of the stock is currently owned by institutional investors and hedge funds.

Custom Truck One Source Stock Down 3.0 %

Shares of NYSE CTOS traded down $0.16 on Tuesday, hitting $5.09. The company had a trading volume of 589,966 shares, compared to its average volume of 606,243. Custom Truck One Source has a 12-month low of $3.03 and a 12-month high of $7.00. 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 firm has a market capitalization of $1.19 billion, a P/E ratio of -31.78 and a beta of 0.78. The business has a 50 day moving average of $4.65 and a two-hundred day moving average of $4.37.

Custom Truck One Source (NYSE:CTOS) last announced its quarterly earnings data 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 net margin of 2.22% and a negative return on equity of 4.57%. The firm had revenue of $447.22 million for the quarter, compared to analyst estimates of $448.46 million. During the same quarter in the previous year, the company earned $0.04 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts forecast that Custom Truck One Source will post -0.21 earnings per share for the current fiscal year.

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).