Target Hospitality (NASDAQ:TH) Stock Price Down 7.6% – What’s Next?

Target Hospitality Corp. (NASDAQ:TH)’s share price was down 7.6% during mid-day trading on Monday. The company traded as low as $19.15 and last traded at $19.02. Approximately 709,526 shares were traded during trading, a decline of 41% from the average daily volume of 1,198,929 shares. The stock had previously closed at $20.58.

Analysts Set New Price Targets

Several research firms have commented on TH. Stifel Nicolaus set a $26.00 price target on shares of Target Hospitality in a research note on Thursday, August 27th. Northland Securities set a $25.00 price objective on Target Hospitality in a research note on Thursday, August 27th. Weiss Ratings upgraded Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $23.00 target price on shares of Target Hospitality in a research note on Thursday, August 27th. Finally, Oppenheimer upped their price target on Target Hospitality from $24.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.20.

Target Hospitality Stock Down 6.2%

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $1.92 billion, a PE ratio of -50.79 and a beta of 1.51. The business’s 50 day moving average is $17.83 and its 200-day moving average is $16.41.

Target Hospitality (NASDAQ:TH) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Target Hospitality had a negative net margin of 10.85% and a negative return on equity of 9.80%. The company had revenue of $85.45 million for the quarter, compared to the consensus estimate of $79.30 million. As a group, analysts predict that Target Hospitality Corp. will post -0.05 EPS for the current year.

Insiders Place Their Bets

In other Target Hospitality news, CEO James Archer purchased 13,385 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was bought at an average cost of $18.69 per share, with a total value of $250,165.65. Following the acquisition, the chief executive officer directly owned 1,845,441 shares of the company’s stock, valued at approximately $34,491,292.29. This represents a 0.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Troy C. Schrenk purchased 5,907 shares of the firm’s stock in a transaction on Friday, September 18th. The shares were acquired at an average cost of $21.16 per share, with a total value of $124,992.12. Following the completion of the acquisition, the insider directly owned 216,995 shares in the company, valued at $4,591,614.20. The trade was a 2.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TH. Quantbot Technologies LP purchased a new stake in shares of Target Hospitality in the second quarter valued at about $27,000. AdvisorShares Investments LLC grew its holdings in shares of Target Hospitality by 17.9% during the fourth quarter. AdvisorShares Investments LLC now owns 11,820 shares of the company’s stock worth $95,000 after buying an additional 1,798 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Target Hospitality by 2.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,692 shares of the company’s stock valued at $2,132,000 after acquiring an additional 2,634 shares during the period. Galaxy Digital Capital Management GP LLC acquired a new position in Target Hospitality in the 1st quarter valued at about $67,000. Finally, State of Wyoming purchased a new stake in Target Hospitality during the 2nd quarter valued at approximately $191,000. Hedge funds and other institutional investors own 32.40% of the company’s stock.

About Target Hospitality

Target Hospitality Corp. (NASDAQ: TH) provides specialty hospitality and workforce accommodation services in North America. The company supports organizations that require temporary or long-term housing and related services in remote, industrial, government, and other challenging operating environments.

Its offerings include modular and prefabricated accommodations, lodging management, food and catering services, housekeeping, maintenance, transportation, security, and other on-site support.