Custom Truck One Source (NYSE:CTOS) Shares Gap Up – What’s Next?

Custom Truck One Source, Inc. (NYSE:CTOS) gapped up prior to trading on Wednesday . The stock had previously closed at $4.02, but opened at $5.35. Custom Truck One Source shares last traded at $4.85, with a volume of 525,889 shares changing hands.

Analysts Set New Price Targets

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

Custom Truck One Source Price Performance

The company has a debt-to-equity ratio of 1.87, a current ratio of 1.28 and a quick ratio of 0.19. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -28.81 and a beta of 0.79. The company has a 50-day simple moving average of $4.84 and a two-hundred day simple moving average of $4.50.

Insider Buying and Selling

In other Custom Truck One Source news, major shareholder Pe One Source Holdings, Llc acquired 8,143,635 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was acquired at an average cost of $4.00 per share, with a total value of $32,574,540.00. Following the acquisition, the insider now directly owns 156,743,635 shares of the company’s stock, valued at $626,974,540. This represents a 5.48 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Black Diamond Financial LLC raised its stake in shares of 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 purchasing an additional 1,285,265 shares in the last quarter. Intech Investment Management LLC acquired a new position in Custom Truck One Source during the 3rd quarter valued at about $56,000. D.A. Davidson & CO. lifted its stake in shares of Custom Truck One Source by 20.5% in the 3rd quarter. D.A. Davidson & CO. now owns 29,240 shares of the company’s stock worth $101,000 after acquiring an additional 4,975 shares during the period. FMR LLC boosted its holdings in shares of Custom Truck One Source by 1,234.8% in the third quarter. FMR LLC now owns 28,846 shares of the company’s stock valued at $100,000 after acquiring an additional 26,685 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Custom Truck One Source by 15.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,626 shares of the company’s stock valued at $378,000 after acquiring an additional 14,906 shares in the last quarter. Institutional investors and hedge funds own 90.07% of the company’s stock.

About Custom Truck One Source

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).