Target Hospitality (NASDAQ:TH) Stock Price Down 6.2% – Should You Sell?

Target Hospitality Corp. (NASDAQ:TH)’s stock price traded down 6.2% during trading on Thursday . The company traded as low as $9.17 and last traded at $9.19. 204,135 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 533,377 shares. The stock had previously closed at $9.80.

Analyst Ratings Changes

Several analysts have recently weighed in on TH shares. Northland Securities raised their price objective on shares of Target Hospitality from $9.00 to $11.00 and gave the company a “market perform” rating in a research report on Wednesday. Oppenheimer restated a “market perform” rating on shares of Target Hospitality in a research report on Thursday.

Target Hospitality Stock Down 2.2 %

The firm has a market capitalization of $911.41 million, a P/E ratio of 10.43, a PEG ratio of 1.06 and a beta of 2.09. The business’s 50-day simple moving average is $8.37 and its 200 day simple moving average is $9.28.

Institutional Trading of Target Hospitality

Several hedge funds have recently added to or reduced their stakes in the business. LB Partners LLC increased its holdings in shares of Target Hospitality by 300.3% in the third quarter. LB Partners LLC now owns 536,428 shares of the company’s stock worth $4,173,000 after buying an additional 402,428 shares during the period. DRW Securities LLC bought a new position in Target Hospitality during the 2nd quarter worth approximately $1,456,000. Denali Advisors LLC increased its stake in Target Hospitality by 856.2% in the 2nd quarter. Denali Advisors LLC now owns 185,500 shares of the company’s stock worth $1,616,000 after purchasing an additional 166,100 shares during the period. Atlas Merchant Capital LLC purchased a new position in Target Hospitality in the 2nd quarter worth approximately $1,306,000. Finally, HighTower Advisors LLC lifted its position in Target Hospitality by 10.1% in the third quarter. HighTower Advisors LLC now owns 1,466,356 shares of the company’s stock valued at $11,408,000 after purchasing an additional 134,966 shares during the last quarter. 32.40% of the stock is owned by institutional investors.

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.