TaskUs, Inc. (NASDAQ:TASK) Sees Significant Drop in Short Interest

TaskUs, Inc. (NASDAQ:TASK - Get Free Report) was the target of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,240,000 shares, a decrease of 21.0% from the October 31st total of 1,570,000 shares. Approximately 7.2% of the shares of the stock are sold short. Based on an average trading volume of 233,400 shares, the days-to-cover ratio is presently 5.3 days.

Institutional Trading of TaskUs

A number of institutional investors have recently made changes to their positions in TASK. Barclays PLC raised its holdings in TaskUs by 24.9% during the 3rd quarter. Barclays PLC now owns 24,774 shares of the company's stock valued at $321,000 after buying an additional 4,945 shares during the last quarter. XTX Topco Ltd bought a new position in shares of TaskUs during the third quarter valued at about $269,000. Jane Street Group LLC boosted its holdings in shares of TaskUs by 9.9% during the third quarter. Jane Street Group LLC now owns 21,761 shares of the company's stock worth $281,000 after purchasing an additional 1,959 shares during the period. Quarry LP grew its stake in shares of TaskUs by 357.4% in the third quarter. Quarry LP now owns 13,567 shares of the company's stock worth $175,000 after purchasing an additional 10,601 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in TaskUs by 47.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company's stock valued at $3,407,000 after purchasing an additional 84,988 shares during the period. Hedge funds and other institutional investors own 44.64% of the company's stock.

TaskUs Trading Down 2.2 %

TASK stock traded down $0.33 during trading on Friday, hitting $14.66. 100,903 shares of the company traded hands, compared to its average volume of 222,835. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02. The company has a 50-day moving average of $13.19 and a 200-day moving average of $13.87. The firm has a market capitalization of $1.31 billion, a PE ratio of 25.41, a P/E/G ratio of 3.88 and a beta of 2.28. TaskUs has a 1 year low of $10.56 and a 1 year high of $19.60.

Analysts Set New Price Targets

TASK has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price target on TaskUs from $17.00 to $18.00 and gave the company a "sector perform" rating in a research report on Friday, August 9th. Robert W. Baird lifted their price objective on shares of TaskUs from $16.00 to $20.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. JPMorgan Chase & Co. reduced their target price on TaskUs from $17.00 to $15.00 and set a "neutral" rating on the stock in a research note on Friday, September 6th. Finally, Citigroup upped their price objective on TaskUs from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $16.43.

About TaskUs

TaskUs, Inc provides digital outsourcing services for companies in Philippines, the United States, India, and internationally. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through non-voice digital channels; and other solutions, including experience and customer care services for new product or market launches, and customer acquisition solutions.