Custom Truck One Source (NYSE:CTOS) Trading Down 7.8% – What’s Next?

Custom Truck One Source, Inc. (NYSE:CTOS)’s share price fell 7.8% during trading on Wednesday . The company traded as low as $4.80 and last traded at $4.81. 246,076 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 750,470 shares. The stock had previously closed at $5.21.

Wall Street Analyst Weigh In

Separately, Oppenheimer upped their price target on shares of Custom Truck One Source from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th.

Custom Truck One Source Trading Down 8.3 %

The company has a 50 day simple moving average of $4.88 and a 200 day simple moving average of $4.57. The stock has a market capitalization of $1.08 billion, a PE ratio of -29.84 and a beta of 0.67. The company has a current ratio of 1.28, a quick ratio of 0.19 and a debt-to-equity ratio of 1.87.

Insider Buying and Selling

In other news, major shareholder Pe One Source Holdings, Llc purchased 8,143,635 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were acquired at an average cost of $4.00 per share, for a total transaction of $32,574,540.00. Following the completion of the purchase, the insider now directly owns 156,743,635 shares in the company, valued at $626,974,540. The trade was a 5.48 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Custom Truck One Source

A number of large investors have recently modified their holdings of the business. BNP Paribas Financial Markets acquired a new position in Custom Truck One Source during the fourth quarter worth $29,000. R Squared Ltd acquired a new position in Custom Truck One Source during the fourth quarter worth $39,000. KLP Kapitalforvaltning AS purchased a new stake in Custom Truck One Source during the fourth quarter worth $56,000. Two Sigma Investments LP acquired a new stake in Custom Truck One Source in the fourth quarter valued at $63,000. Finally, Platform Technology Partners purchased a new position in shares of Custom Truck One Source in the fourth quarter valued at $66,000. 90.07% of the stock is owned by hedge funds and other institutional investors.

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).