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

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

Analyst Upgrades and Downgrades

Separately, Oppenheimer lowered their price objective 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.

Custom Truck One Source Stock Up 2.7 %

Shares of Custom Truck One Source stock traded up $0.13 during midday trading on Friday, hitting $4.76. The company had a trading volume of 526,705 shares, compared to its average volume of 563,879. Custom Truck One Source has a 52-week low of $3.03 and a 52-week high of $7.00. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.19 and a current ratio of 1.28. The company has a 50 day moving average of $5.11 and a 200 day moving average of $4.40.

Custom Truck One Source (NYSE:CTOS) last released its earnings results on Wednesday, October 30th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Custom Truck One Source had a negative return on equity of 4.57% and a negative net margin of 2.22%. The company had revenue of $447.22 million during the quarter, compared to the consensus estimate of $448.46 million. During the same period last year, the firm posted $0.04 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. On average, research analysts forecast that Custom Truck One Source will post -0.21 EPS for the current year.

Institutional Investors Weigh In On Custom Truck One Source

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC raised its position in Custom Truck One Source by 69.4% in the 4th quarter. SG Americas Securities LLC now owns 31,523 shares of the company’s stock worth $152,000 after buying an additional 12,913 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Custom Truck One Source by 939.4% in the third quarter. JPMorgan Chase & Co. now owns 492,411 shares of the company’s stock worth $1,699,000 after acquiring an additional 445,038 shares during the period. Barclays PLC raised its holdings in shares of Custom Truck One Source by 349.6% during the third quarter. Barclays PLC now owns 84,526 shares of the company’s stock valued at $291,000 after purchasing an additional 65,725 shares during the last quarter. Jane Street Group LLC lifted its position in Custom Truck One Source by 4.9% during the third quarter. Jane Street Group LLC now owns 89,432 shares of the company’s stock valued at $309,000 after purchasing an additional 4,155 shares during the period. Finally, Paloma Partners Management Co boosted its holdings in Custom Truck One Source by 17.5% in the third quarter. Paloma Partners Management Co now owns 256,146 shares of the company’s stock worth $884,000 after purchasing an additional 38,242 shares during the last quarter. Institutional investors own 90.07% of the company’s stock.

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).