Target Hospitality Corp. (NASDAQ:TH) Sees Large Decrease in Short Interest

Target Hospitality Corp. (NASDAQ:TH) saw a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 1,070,000 shares, a decrease of 35.5% from the October 31st total of 1,660,000 shares. Based on an average daily trading volume, of 430,500 shares, the short-interest ratio is presently 2.5 days. Currently, 3.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

TH has been the subject of a number of recent research reports. Oppenheimer reissued a “market perform” rating on shares of Target Hospitality in a report on Thursday, November 14th. Northland Securities lifted their target price on Target Hospitality from $9.00 to $11.00 and gave the stock a “market perform” rating in a report on Wednesday, November 13th.

Hedge Funds Weigh In On Target Hospitality

Institutional investors have recently modified their holdings of the stock. American Century Companies Inc. lifted its holdings in shares of Target Hospitality by 39.7% in the 2nd quarter. American Century Companies Inc. now owns 397,324 shares of the company’s stock worth $3,461,000 after buying an additional 112,833 shares during the period. Denali Advisors LLC lifted its stake in Target Hospitality by 856.2% in the second quarter. Denali Advisors LLC now owns 185,500 shares of the company’s stock worth $1,616,000 after acquiring an additional 166,100 shares during the period. LB Partners LLC grew its holdings in Target Hospitality by 300.3% during the 3rd quarter. LB Partners LLC now owns 536,428 shares of the company’s stock worth $4,173,000 after acquiring an additional 402,428 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in Target Hospitality by 347.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 17,128 shares of the company’s stock valued at $186,000 after purchasing an additional 13,301 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Target Hospitality by 11.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,480 shares of the company’s stock valued at $126,000 after purchasing an additional 1,540 shares in the last quarter. 32.40% of the stock is owned by hedge funds and other institutional investors.

Target Hospitality Stock Performance

TH stock traded down $0.05 during midday trading on Thursday, reaching $8.30. The company’s stock had a trading volume of 413,047 shares, compared to its average volume of 530,096. The stock has a fifty day simple moving average of $8.15 and a two-hundred day simple moving average of $9.11. The firm has a market capitalization of $821.20 million, a price-to-earnings ratio of 9.54, a PEG ratio of 0.85 and a beta of 2.09. Target Hospitality has a 1 year low of $6.11 and a 1 year high of $11.84.

About Target Hospitality

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.