Mammoth Energy Services (NASDAQ:TUSK) Issues Earnings Results

Key Points

• Mammoth Energy Services reported a loss of ($0.74) EPS for the quarter, along with a negative net margin of 94.61%.
• The company's shares fell by 3.9% to $2.36, with a significant market cap of $113.35 million and a price-to-earnings ratio of -0.58.
• Institutional investors currently own 79.67% of Mammoth Energy Services, reflecting increased holdings by firms like Geode Capital Management and Bank of America.

Mammoth Energy Services (NASDAQ:TUSK - Get Free Report) posted its quarterly earnings data on Friday. The energy company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.68), Zacks reports. The business had revenue of $16.41 million during the quarter, compared to analysts' expectations of $43.70 million. Mammoth Energy Services had a negative return on equity of 29.36% and a negative net margin of 18.13%.

Mammoth Energy Services Stock Up 1.4%

NASDAQ:TUSK traded up $0.03 during trading hours on Tuesday, hitting $2.23. 20,080 shares of the stock traded hands, compared to its average volume of 127,025. Mammoth Energy Services has a 1 year low of $1.68 and a 1 year high of $4.90. The company has a market cap of $107.33 million, a price-to-earnings ratio of -3.46 and a beta of 1.30. The stock has a 50 day moving average price of $2.70 and a 200 day moving average price of $2.55.

Insiders Place Their Bets

In other news, Director Arthur L. Smith sold 50,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $2.51, for a total value of $125,500.00. Following the completion of the transaction, the director owned 150,034 shares of the company's stock, valued at $376,585.34. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 85,000 shares of company stock worth $213,050 over the last quarter. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Mammoth Energy Services

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its holdings in shares of Mammoth Energy Services by 45.8% in the fourth quarter. Bank of America Corp DE now owns 22,882 shares of the energy company's stock worth $69,000 after buying an additional 7,192 shares in the last quarter. Empowered Funds LLC raised its stake in Mammoth Energy Services by 8.9% during the first quarter. Empowered Funds LLC now owns 159,685 shares of the energy company's stock valued at $326,000 after purchasing an additional 13,111 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Mammoth Energy Services by 726.7% during the second quarter. JPMorgan Chase & Co. now owns 185,761 shares of the energy company's stock valued at $520,000 after purchasing an additional 163,291 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Mammoth Energy Services by 6.5% during the second quarter. Geode Capital Management LLC now owns 580,659 shares of the energy company's stock valued at $1,626,000 after purchasing an additional 35,495 shares in the last quarter. Hedge funds and other institutional investors own 79.67% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Mammoth Energy Services from a "hold" rating to a "buy" rating in a report on Thursday, May 8th.

Mammoth Energy Services Company Profile

Mammoth Energy Services, Inc operates as an energy services company in the United States, Canada, and internationally. The company operates in four segments: Well Completion Services, Infrastructure Services, Natural Sand Proppant Services, and Drilling Services. The company offers pressure pumping and hydraulic fracturing, sand hauling, and water transfer services; and master services agreements.