Custom Truck One Source, Inc. (NYSE:CTOS) Short Interest Update

Custom Truck One Source, Inc. (NYSE:CTOS) was the target of 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. Currently, 7.8% of the company’s shares are short sold. Based on an average trading volume of 628,600 shares, the short-interest ratio is presently 6.7 days.

Insider Transactions at Custom Truck One Source

In other news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $3.42, for a total value of $8,051,052.78. Following the completion of the sale, the insider now directly owns 23,384,879 shares of the company’s stock, valued at approximately $79,976,286.18. This represents a 9.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. acquired a new position in shares of Custom Truck One Source in the 2nd quarter valued at approximately $47,000. Intech Investment Management LLC acquired a new position in Custom Truck One Source in the 3rd quarter valued at $56,000. SG Americas Securities LLC acquired a new position in Custom Truck One Source in the 3rd quarter valued at $64,000. Cetera Advisors LLC acquired a new stake in shares of Custom Truck One Source during the 1st quarter worth $68,000. Finally, First Merchants Corp acquired a new stake in shares of Custom Truck One Source during the 2nd quarter worth $87,000. 90.07% of the stock is owned by institutional investors.

Custom Truck One Source Price Performance

Shares of Custom Truck One Source stock traded down $0.15 on Monday, hitting $5.83. The company had a trading volume of 369,843 shares, compared to its average volume of 606,302. Custom Truck One Source has a 52 week low of $3.03 and a 52 week high of $7.00. 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 company has a market cap of $1.36 billion, a PE ratio of -35.88 and a beta of 0.61. The business has a 50-day simple moving average of $4.16 and a 200-day simple moving average of $4.30.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.07) earnings per share 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 business had revenue of $447.22 million for the quarter, compared to the consensus estimate of $448.46 million. During the same period in the previous year, the business posted $0.04 EPS. Custom Truck One Source’s revenue was up 3.0% compared to the same quarter last year. Research analysts expect that Custom Truck One Source will post -0.21 EPS for the current fiscal year.

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 on the stock in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Custom Truck One Source presently has an average rating of “Moderate Buy” and an average target price 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).