Custom Truck One Source (NYSE:CTOS) Shares Gap Down - Here's What Happened

Shares of Custom Truck One Source, Inc. (NYSE:CTOS - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $4.34, but opened at $4.20. Custom Truck One Source shares last traded at $4.25, with a volume of 46,653 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus cut their price target on shares of Custom Truck One Source from $5.50 to $5.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Oppenheimer upped their price target on 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. Finally, Robert W. Baird cut shares of Custom Truck One Source from an "outperform" rating to a "neutral" rating and set a $5.00 price target for the company. in a report on Monday.

Custom Truck One Source Stock Performance

The firm's 50 day moving average is $4.29 and its 200-day moving average is $4.63. 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 firm has a market cap of $908.25 million, a price-to-earnings ratio of -25.16 and a beta of 0.83.

Insider Activity at Custom Truck One Source

In other news, major shareholder Pe One Source Holdings, Llc bought 8,143,635 shares of the business's stock in a transaction on Thursday, January 30th. The stock was purchased at an average price of $4.00 per share, with a total value of $32,574,540.00. Following the transaction, the insider now directly owns 156,743,635 shares in the company, valued at approximately $626,974,540. The trade was a 5.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Custom Truck One Source

Several large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new position in Custom Truck One Source in the 4th quarter worth approximately $29,000. R Squared Ltd bought a new position in Custom Truck One Source during the fourth quarter worth $39,000. KLP Kapitalforvaltning AS acquired a new position in Custom Truck One Source during the 4th quarter valued at $56,000. Two Sigma Investments LP bought a new stake in Custom Truck One Source in the 4th quarter valued at $63,000. Finally, Platform Technology Partners bought a new stake in Custom Truck One Source in the 4th quarter valued at $66,000. 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).

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