Short Interest in Custom Truck One Source, Inc. (NYSE:CTOS) Increases By 6.2%

Custom Truck One Source, Inc. (NYSE:CTOS - Get Free Report) was the recipient of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 4,470,000 shares, a growth of 6.2% from the November 15th total of 4,210,000 shares. Approximately 8.3% of the shares of the company are short sold. Based on an average daily trading volume, of 575,900 shares, the days-to-cover ratio is presently 7.8 days.

Institutional Trading of Custom Truck One Source

Several institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its stake in Custom Truck One Source by 190.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,934,780 shares of the company's stock worth $21,466,000 after purchasing an additional 3,234,586 shares during the last quarter. Black Diamond Financial LLC boosted 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 acquiring an additional 1,285,265 shares during the last quarter. Maven Securities LTD purchased a new stake in Custom Truck One Source during the 2nd quarter valued at about $2,175,000. Dimensional Fund Advisors LP raised its holdings in Custom Truck One Source by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,246,060 shares of the company's stock valued at $9,770,000 after acquiring an additional 410,895 shares during the last quarter. Finally, First Eagle Investment Management LLC purchased a new position in Custom Truck One Source in the 2nd quarter worth approximately $1,328,000. Institutional investors and hedge funds own 90.07% of the company's stock.

Analyst Ratings Changes

Separately, Oppenheimer reduced their price target on 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. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from 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 Price Performance

Shares of NYSE:CTOS traded down $0.16 during trading on Tuesday, reaching $5.09. 589,966 shares of the company's stock traded hands, compared to its average volume of 606,243. The company has a quick ratio of 0.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.87. Custom Truck One Source has a fifty-two week low of $3.03 and a fifty-two week high of $7.00. The company has a 50-day simple moving average of $4.65 and a 200-day simple moving average of $4.37. The firm has a market cap of $1.19 billion, a PE ratio of -31.78 and a beta of 0.78.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The business had revenue of $447.22 million during the quarter, compared to analyst estimates of $448.46 million. Custom Truck One Source had a negative net margin of 2.22% and a negative return on equity of 4.57%. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 earnings per share. As a group, analysts predict that Custom Truck One Source will post -0.21 earnings per share for the current year.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.