Short Interest in Mammoth Energy Services Inc (NASDAQ:TUSK) Increases By 20.6%

Mammoth Energy Services Inc (NASDAQ:TUSK) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 2,110,000 shares, a growth of 20.6% from the June 15th total of 1,750,000 shares. Currently, 6.2% of the shares of the company are sold short. Based on an average daily trading volume, of 327,900 shares, the short-interest ratio is presently 6.4 days.

A number of institutional investors have recently modified their holdings of TUSK. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Mammoth Energy Services by 29.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,108 shares of the energy company’s stock worth $319,000 after purchasing an additional 32,662 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Mammoth Energy Services by 100.7% during the 1st quarter. Bank of New York Mellon Corp now owns 84,382 shares of the energy company’s stock valued at $63,000 after acquiring an additional 42,331 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Mammoth Energy Services during the 1st quarter worth $1,657,000. Invesco Ltd. increased its stake in Mammoth Energy Services by 1,089.3% during the 1st quarter. Invesco Ltd. now owns 263,281 shares of the energy company’s stock worth $198,000 after buying an additional 241,144 shares during the period. Finally, Valueworks LLC increased its stake in Mammoth Energy Services by 42.9% during the 1st quarter. Valueworks LLC now owns 3,144,883 shares of the energy company’s stock worth $2,355,000 after buying an additional 944,182 shares during the period. 67.63% of the stock is owned by institutional investors.

Several equities research analysts have recently weighed in on TUSK shares. ValuEngine upgraded shares of Mammoth Energy Services from a “hold” rating to a “buy” rating in a research note on Wednesday, March 18th. Zacks Investment Research downgraded shares of Mammoth Energy Services from a “buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $3.29.

NASDAQ TUSK traded down $0.06 during trading hours on Tuesday, hitting $1.19. 3,956 shares of the stock were exchanged, compared to its average volume of 403,348. The company has a market cap of $52.57 million, a price-to-earnings ratio of -0.28 and a beta of 2.03. Mammoth Energy Services has a 12-month low of $0.56 and a 12-month high of $7.91. The stock has a 50-day moving average of $1.45 and a 200 day moving average of $1.29. The company has a quick ratio of 3.24, a current ratio of 3.35 and a debt-to-equity ratio of 0.19.

Mammoth Energy Services (NASDAQ:TUSK) last posted its quarterly earnings results on Monday, May 11th. The energy company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.18. The firm had revenue of $97.38 million during the quarter, compared to analysts’ expectations of $120.22 million. Mammoth Energy Services had a negative net margin of 41.57% and a negative return on equity of 11.82%. On average, equities research analysts expect that Mammoth Energy Services will post -2.08 earnings per share for the current year.

Mammoth Energy Services Company Profile

Mammoth Energy Services, Inc operates as an oilfield service company. The company operates in three segments: Infrastructure Services, Pressure Pumping Services, and Natural Sand Proppant Services. The Infrastructure Services segment offers a range of services on electric transmission and distribution networks, and substation facilities, including the construction, upgrade, maintenance, and repair of high voltage transmission lines, substations, and lower voltage overhead and underground distribution systems; storm repair and restoration services; and commercial services comprising installation, maintenance, and repair of commercial wiring.

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