Target Hospitality (NASDAQ:TH) Sees Unusually-High Trading Volume – Here’s Why

Shares of Target Hospitality Corp. (NASDAQ:TH) saw unusually-strong trading volume on Thursday . Approximately 424,909 shares changed hands during trading, an increase of 0% from the previous session’s volume of 424,614 shares.The stock last traded at $10.99 and had previously closed at $10.71.

Analyst Ratings Changes

Several brokerages recently commented on TH. Northland Securities lifted their price objective on Target Hospitality from $9.00 to $11.00 and gave the stock a “market perform” rating in a report on Wednesday, November 13th. Oppenheimer restated a “market perform” rating on shares of Target Hospitality in a research note on Thursday, November 14th.

Target Hospitality Stock Performance

The company has a market capitalization of $1.05 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.79 and a beta of 2.07. The company’s fifty day moving average is $9.16 and its 200-day moving average is $8.96.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. HighTower Advisors LLC lifted its holdings in Target Hospitality by 10.1% in the 3rd quarter. HighTower Advisors LLC now owns 1,466,356 shares of the company’s stock worth $11,408,000 after purchasing an additional 134,966 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Target Hospitality by 9.3% during the third quarter. Geode Capital Management LLC now owns 855,069 shares of the company’s stock valued at $6,654,000 after buying an additional 72,579 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Target Hospitality by 6.1% in the second quarter. Renaissance Technologies LLC now owns 741,036 shares of the company’s stock worth $6,454,000 after buying an additional 42,800 shares in the last quarter. State Street Corp grew its stake in Target Hospitality by 1.7% during the third quarter. State Street Corp now owns 725,905 shares of the company’s stock valued at $5,648,000 after acquiring an additional 12,087 shares in the last quarter. Finally, LB Partners LLC grew its stake in Target Hospitality by 300.3% during the third quarter. LB Partners LLC now owns 536,428 shares of the company’s stock valued at $4,173,000 after acquiring an additional 402,428 shares in the last quarter. Hedge funds and other institutional investors own 32.40% of the company’s stock.

Target Hospitality Company Profile

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services – South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.