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

Custom Truck One Source, Inc. (NYSE:CTOS) was the target 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. Based on an average trading volume of 575,900 shares, the days-to-cover ratio is presently 7.8 days. Approximately 8.3% of the shares of the stock are sold short.

Institutional Trading of Custom Truck One Source

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of 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 valued at $21,466,000 after purchasing an additional 3,234,586 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Custom Truck One Source by 22.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,246,060 shares of the company’s stock worth $9,770,000 after buying an additional 410,895 shares in the last quarter. Black Diamond Financial LLC grew its position in shares of Custom Truck One Source by 906.8% during the 3rd quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock worth $4,923,000 after buying an additional 1,285,265 shares during the period. Maven Securities LTD bought a new stake in shares of Custom Truck One Source in the 2nd quarter valued at $2,175,000. Finally, First Eagle Investment Management LLC acquired a new position in shares of Custom Truck One Source during the 2nd quarter valued at $1,328,000. Institutional investors and hedge funds own 90.07% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Oppenheimer reduced their target price on Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.63.

Custom Truck One Source Price Performance

Shares of NYSE CTOS traded down $0.16 during mid-day trading on Tuesday, hitting $5.09. 589,966 shares of the stock traded hands, compared to its average volume of 606,243. Custom Truck One Source has a twelve month low of $3.03 and a twelve month high of $7.00. The firm has a 50 day simple moving average of $4.65 and a two-hundred day simple moving average of $4.37. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.28 and a quick ratio of 0.19. The company 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) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.07) earnings per share (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 company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 earnings per share. As a group, equities research analysts forecast that Custom Truck One Source will post -0.21 EPS for the current fiscal year.

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).