Custom Truck One Source (NYSE:CTOS) Trading Down 7.5% - Time to Sell?

Shares of Custom Truck One Source, Inc. (NYSE:CTOS - Get Free Report) fell 7.5% on Monday . The company traded as low as $3.51 and last traded at $3.51. 112,447 shares changed hands during trading, a decline of 84% from the average session volume of 689,975 shares. The stock had previously closed at $3.80.

Analyst Ratings Changes

A number of analysts recently issued reports on CTOS shares. Stifel Nicolaus dropped their price target on shares of Custom Truck One Source from $5.50 to $5.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Oppenheimer boosted their target price on shares of Custom Truck One Source from $5.00 to $6.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th.

Custom Truck One Source Stock Performance

The company has a 50-day moving average of $4.29 and a 200-day moving average of $4.62. The firm has a market capitalization of $979.33 million, a price-to-earnings ratio of -27.13 and a beta of 0.83. The company has a current ratio of 1.28, a quick ratio of 0.19 and a debt-to-equity ratio of 1.87.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Custom Truck One Source

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. raised its position in shares of Custom Truck One Source by 105.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,407,782 shares of the company's stock worth $35,632,000 after buying an additional 3,796,138 shares in the last quarter. Canvas Wealth Advisors LLC raised its holdings in Custom Truck One Source by 8.8% during the first quarter. Canvas Wealth Advisors LLC now owns 4,468,342 shares of the company's stock worth $17,158,000 after purchasing an additional 359,988 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Custom Truck One Source by 2.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,307,058 shares of the company's stock worth $18,090,000 after purchasing an additional 93,090 shares during the period. Vanguard Group Inc. boosted its stake in Custom Truck One Source by 17.9% during the 4th quarter. Vanguard Group Inc. now owns 3,903,855 shares of the company's stock valued at $18,778,000 after purchasing an additional 592,571 shares in the last quarter. Finally, Boston Partners bought a new position in Custom Truck One Source during the 4th quarter valued at $18,268,000. 90.07% of the stock is owned by institutional investors.

About Custom Truck One Source

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).