TaskUs, Inc. (NASDAQ:TASK) Short Interest Update

TaskUs, Inc. (NASDAQ:TASK) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,890,000 shares, an increase of 18.9% from the February 13th total of 1,590,000 shares. Based on an average daily trading volume, of 348,000 shares, the days-to-cover ratio is presently 5.4 days. Approximately 10.6% of the company’s stock are sold short.

Insider Activity

In other news, insider Jarrod Johnson sold 15,460 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $13.25, for a total value of $204,845.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 29.26% of the stock is currently owned by insiders.

Institutional Trading of TaskUs

Large investors have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. boosted its stake in TaskUs by 47.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 263,734 shares of the company’s stock valued at $3,407,000 after buying an additional 84,988 shares in the last quarter. Royce & Associates LP boosted its stake in TaskUs by 8.9% in the third quarter. Royce & Associates LP now owns 669,579 shares of the company’s stock valued at $8,651,000 after buying an additional 54,770 shares in the last quarter. Seldon Capital LP acquired a new stake in TaskUs in the third quarter valued at about $5,393,000. JPMorgan Chase & Co. acquired a new stake in TaskUs in the third quarter valued at about $1,006,000. Finally, Janney Montgomery Scott LLC acquired a new stake in TaskUs in the fourth quarter valued at about $613,000. 44.64% of the stock is owned by institutional investors and hedge funds.

TaskUs Stock Up 0.4 %

Shares of NASDAQ TASK opened at $13.70 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.02 and a current ratio of 3.02. TaskUs has a 52 week low of $10.56 and a 52 week high of $19.60. The stock has a market capitalization of $1.23 billion, a P/E ratio of 23.22, a PEG ratio of 3.92 and a beta of 2.24. The stock’s fifty day moving average is $15.20 and its 200 day moving average is $14.49.

TaskUs (NASDAQ:TASK) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). TaskUs had a return on equity of 17.73% and a net margin of 5.58%. The company had revenue of $274.24 million during the quarter, compared to the consensus estimate of $268.65 million. Sell-side analysts forecast that TaskUs will post 0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on TASK. Bank of America raised TaskUs from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Monday, December 9th. Royal Bank of Canada increased their price target on TaskUs from $18.00 to $20.00 and gave the company a “sector perform” rating in a research note on Thursday, February 27th. Finally, Morgan Stanley upgraded TaskUs from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $18.00 to $21.00 in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.86.

About TaskUs

TaskUs, Inc provides digital outsourcing services for companies in Philippines, the United States, India, and internationally. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through non-voice digital channels; and other solutions, including experience and customer care services for new product or market launches, and customer acquisition solutions.