Short Interest in Custom Truck One Source, Inc. (NYSE:CTOS) Declines By 8.5%

Custom Truck One Source, Inc. (NYSE:CTOS) was the recipient of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 4,210,000 shares, a decline of 8.5% from the October 31st total of 4,600,000 shares. Approximately 7.8% of the shares of the company are sold short. Based on an average daily volume of 628,600 shares, the short-interest ratio is presently 6.7 days.

Custom Truck One Source Stock Performance

Custom Truck One Source stock traded up $0.01 during midday trading on Tuesday, reaching $5.80. 455,753 shares of the stock traded hands, compared to its average volume of 606,389. The company has a current ratio of 1.28, a quick ratio of 0.19 and a debt-to-equity ratio of 1.87. The firm has a fifty day moving average price of $4.20 and a two-hundred day moving average price of $4.31. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -36.25 and a beta of 0.78. Custom Truck One Source has a fifty-two week low of $3.03 and a fifty-two week high of $7.00.

Custom Truck One Source (NYSE:CTOS) last posted its earnings results on Wednesday, October 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The firm had revenue of $447.22 million for 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 for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.04 earnings per share. On average, equities research analysts forecast that Custom Truck One Source will post -0.21 earnings per share for the current year.

Insider Buying and Selling at Custom Truck One Source

In related news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $3.42, for a total transaction of $8,051,052.78. Following the completion of the sale, the insider now owns 23,384,879 shares of the company’s stock, valued at $79,976,286.18. This represents a 9.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.60% of the stock is owned by insiders.

Institutional Trading of Custom Truck One Source

A number of institutional investors have recently made changes to their positions in CTOS. Price T Rowe Associates Inc. MD lifted its stake in Custom Truck One Source by 21.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,395 shares of the company’s stock valued at $96,000 after purchasing an additional 2,882 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Custom Truck One Source by 4.9% during the 3rd quarter. Jane Street Group LLC now owns 89,432 shares of the company’s stock worth $309,000 after purchasing an additional 4,155 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of Custom Truck One Source by 20.5% during the 3rd quarter. D.A. Davidson & CO. now owns 29,240 shares of the company’s stock worth $101,000 after purchasing an additional 4,975 shares during the last quarter. Sendero Wealth Management LLC increased its stake in shares of Custom Truck One Source by 6.5% during the 2nd quarter. Sendero Wealth Management LLC now owns 162,800 shares of the company’s stock worth $708,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Custom Truck One Source during the 2nd quarter worth $47,000. 90.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Oppenheimer lowered their price objective on shares of 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. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.63.

Custom Truck One Source Company Profile

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).