BlackRock Inc. Invests $1.33 Million in Mammoth Energy Services, Inc. $TUSK

BlackRock Inc. acquired a new stake in Mammoth Energy Services, Inc. (NASDAQ:TUSK - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 407,976 shares of the energy company's stock, valued at approximately $1,326,000. BlackRock Inc. owned about 0.85% of Mammoth Energy Services as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in TUSK. Bank of New York Mellon Corp acquired a new position in Mammoth Energy Services in the 2nd quarter valued at $202,000. GSA Capital Partners LLP acquired a new position in Mammoth Energy Services in the 2nd quarter valued at $421,000. Marquette Asset Management LLC acquired a new position in Mammoth Energy Services in the 2nd quarter valued at $357,000. FNY Investment Advisers LLC acquired a new position in Mammoth Energy Services in the 2nd quarter valued at $248,000. Finally, Empowered Funds LLC raised its stake in Mammoth Energy Services by 10.2% in the 1st quarter. Empowered Funds LLC now owns 241,313 shares of the energy company's stock valued at $591,000 after purchasing an additional 22,322 shares during the last quarter. 79.67% of the stock is owned by institutional investors and hedge funds.

Mammoth Energy Services Stock Performance

Shares of TUSK traded down $0.00 during midday trading on Friday, hitting $3.11. The company had a trading volume of 47,729 shares, compared to its average volume of 285,250. Mammoth Energy Services, Inc. has a 1 year low of $1.72 and a 1 year high of $3.92. The firm has a market capitalization of $149.53 million, a P/E ratio of 155.35 and a beta of 1.18. The company's 50-day simple moving average is $3.00 and its 200-day simple moving average is $2.84.

Mammoth Energy Services (NASDAQ:TUSK - Get Free Report) last issued its earnings results on Friday, August 7th. The energy company reported ($0.01) earnings per share for the quarter. Mammoth Energy Services had a negative return on equity of 8.10% and a net margin of 0.98%.The business had revenue of $26.05 million for the quarter.

Insider Buying and Selling at Mammoth Energy Services

In other Mammoth Energy Services news, insider Wexford Capital Lp bought 4,019,574 shares of the business's stock in a transaction dated Wednesday, June 17th. The shares were acquired at an average price of $2.60 per share, with a total value of $10,450,892.40. Following the transaction, the insider owned 10,620,789 shares of the company's stock, valued at approximately $27,614,051.40. The trade was a 60.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Weiss Ratings downgraded Mammoth Energy Services from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. Wall Street Zen raised Mammoth Energy Services from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of "Sell".

About Mammoth Energy Services

Mammoth Energy Services, Inc NASDAQ: TUSK is an energy infrastructure and services company headquartered in Oklahoma City, Oklahoma. The company provides services to electric utilities, oil and gas producers, and other energy-related customers in the United States and Canada.

Its infrastructure services include the construction, maintenance, repair, and restoration of electric transmission and distribution systems, substations, and related facilities. Mammoth also provides engineering, procurement, and construction services, as well as emergency response and storm-recovery work for utility infrastructure.

Historically, the company has also operated businesses supporting oil and gas exploration and production.