Custom Truck One Source (NYSE:CTOS) Sees Unusually-High Trading Volume – What’s Next?

Custom Truck One Source, Inc. (NYSE:CTOS) shares saw unusually-high trading volume on Wednesday . Approximately 544,189 shares changed hands during mid-day trading, a decline of 18% from the previous session’s volume of 662,042 shares.The stock last traded at $5.14 and had previously closed at $5.02.

Wall Street Analyst Weigh In

Separately, Oppenheimer decreased their price objective 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.

Custom Truck One Source Price Performance

The company’s 50 day moving average price is $5.11 and its 200 day moving average price is $4.43. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.19 and a current ratio of 1.28. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -32.91 and a beta of 0.79.

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

Hedge Funds Weigh In On Custom Truck One Source

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Black Diamond Financial LLC increased its holdings in shares of Custom Truck One Source by 906.8% in the third quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock valued at $4,923,000 after purchasing an additional 1,285,265 shares in the last quarter. Maven Securities LTD acquired a new stake in shares of Custom Truck One Source in the 2nd quarter valued at $2,175,000. JPMorgan Chase & Co. raised its position in shares of Custom Truck One Source by 939.4% during the third quarter. JPMorgan Chase & Co. now owns 492,411 shares of the company’s stock worth $1,699,000 after acquiring an additional 445,038 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Custom Truck One Source by 22.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,246,060 shares of the company’s stock valued at $9,770,000 after acquiring an additional 410,895 shares during the last quarter. Finally, Barclays PLC increased its position in Custom Truck One Source by 349.6% in the third quarter. Barclays PLC now owns 84,526 shares of the company’s stock worth $291,000 after purchasing an additional 65,725 shares during the period. Institutional investors and hedge funds own 90.07% of the company’s stock.

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).