Target Hospitality (NASDAQ:TH) Shares Gap Up – What’s Next?

Target Hospitality Corp. (NASDAQ:TH) shares gapped up prior to trading on Wednesday . The stock had previously closed at $9.31, but opened at $9.85. Target Hospitality shares last traded at $9.83, with a volume of 110,688 shares changing hands.

Analyst Ratings Changes

TH has been the subject of a number of research analyst reports. Northland Securities upgraded shares of Target Hospitality from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $11.00 to $15.00 in a research report on Wednesday. Oppenheimer reiterated a “market perform” rating on shares of Target Hospitality in a report on Thursday, November 14th.

Target Hospitality Price Performance

The company has a fifty day simple moving average of $9.29 and a two-hundred day simple moving average of $9.03. The company has a market capitalization of $989.89 million, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 1.90 and a beta of 2.07.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TH. Charles Schwab Investment Management Inc. lifted its stake in shares of Target Hospitality by 28.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 271,590 shares of the company’s stock valued at $2,113,000 after buying an additional 60,569 shares during the period. HighTower Advisors LLC grew its holdings in shares of Target Hospitality by 10.1% during the 3rd quarter. HighTower Advisors LLC now owns 1,466,356 shares of the company’s stock worth $11,408,000 after purchasing an additional 134,966 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Target Hospitality by 9.3% during the third quarter. Geode Capital Management LLC now owns 855,069 shares of the company’s stock valued at $6,654,000 after purchasing an additional 72,579 shares during the period. LB Partners LLC raised its stake in shares of Target Hospitality by 300.3% in the third quarter. LB Partners LLC now owns 536,428 shares of the company’s stock valued at $4,173,000 after purchasing an additional 402,428 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Target Hospitality by 11.9% in the second quarter. The Manufacturers Life Insurance Company now owns 14,480 shares of the company’s stock worth $126,000 after purchasing an additional 1,540 shares during the period. Institutional investors and hedge funds own 32.40% of the company’s stock.

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.