TaskUs, Inc. (NASDAQ:TASK) Sees Significant Drop in Short Interest

TaskUs, Inc. (NASDAQ:TASK) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 1,370,000 shares, a drop of 17.5% from the March 15th total of 1,660,000 shares. Based on an average daily volume of 381,200 shares, the days-to-cover ratio is currently 3.6 days. Approximately 7.8% of the company’s shares are sold short.

TaskUs Stock Down 1.4 %

NASDAQ TASK traded down $0.18 during trading hours on Monday, hitting $12.78. The company’s stock had a trading volume of 149,337 shares, compared to its average volume of 268,273. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.50. The company’s 50-day simple moving average is $13.64 and its two-hundred day simple moving average is $14.57. The company has a market capitalization of $1.15 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 3.92 and a beta of 2.17. TaskUs has a 52 week low of $10.57 and a 52 week high of $19.60.

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

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada lifted their target price on shares of TaskUs from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, TaskUs has an average rating of “Hold” and an average target price of $17.86.

Insider Activity

In other news, insider Jarrod Johnson sold 21,437 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.60, for a total value of $291,543.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 29.26% of the company’s stock.

Hedge Funds Weigh In On TaskUs

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in TaskUs by 71.5% during the fourth quarter. Blue Trust Inc. now owns 1,677 shares of the company’s stock worth $28,000 after acquiring an additional 699 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of TaskUs in the 1st quarter worth about $63,000. BNP Paribas Financial Markets bought a new position in TaskUs during the fourth quarter valued at about $80,000. KLP Kapitalforvaltning AS bought a new stake in TaskUs in the fourth quarter worth about $81,000. Finally, Point72 Asset Management L.P. purchased a new position in TaskUs in the fourth quarter valued at about $83,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

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.