Custom Truck One Source, Inc. (NYSE:CTOS) Sees Significant Decline in Short Interest

Custom Truck One Source, Inc. (NYSE:CTOS - Get Free Report) saw a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 4,160,000 shares, a decrease of 6.3% from the December 31st total of 4,440,000 shares. Based on an average daily volume of 611,200 shares, the days-to-cover ratio is currently 6.8 days. Approximately 7.1% of the company's shares are short sold.

Custom Truck One Source Stock Up 2.6 %

Shares of CTOS stock traded up $0.14 during trading hours on Wednesday, hitting $5.34. 537,222 shares of the company were exchanged, compared to its average volume of 925,510. Custom Truck One Source has a 52 week low of $3.03 and a 52 week high of $7.00. The company has a current ratio of 1.28, a quick ratio of 0.19 and a debt-to-equity ratio of 1.87. The business has a 50 day moving average of $5.07 and a two-hundred day moving average of $4.46. The company has a market capitalization of $1.25 billion, a PE ratio of -33.22 and a beta of 0.79.

Wall Street Analysts Forecast Growth

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.

Insider Activity

In other 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 purchased at an average price of $4.00 per share, for a total transaction of $32,574,540.00. Following the completion of the acquisition, the insider now owns 156,743,635 shares in the company, valued at $626,974,540. This trade represents a 5.48 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in 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 valued at $9,770,000 after purchasing an additional 410,895 shares during the last quarter. SG Americas Securities LLC bought a new position in Custom Truck One Source during the third quarter worth about $64,000. Black Diamond Financial LLC increased its position in 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 worth $4,923,000 after buying an additional 1,285,265 shares during the last quarter. Intech Investment Management LLC bought a new stake in Custom Truck One Source in the third quarter valued at approximately $56,000. Finally, D.A. Davidson & CO. lifted its position in shares of Custom Truck One Source by 20.5% in the third quarter. D.A. Davidson & CO. now owns 29,240 shares of the company's stock valued at $101,000 after buying an additional 4,975 shares during the last quarter. 90.07% of the stock is owned by institutional investors and hedge funds.

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).