Mammoth Energy Services (NASDAQ:TUSK) Announces 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) released its quarterly earnings results on Friday. The energy company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.68), Zacks reports. The company 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 29.24% and a negative net margin of 18.13%.

Mammoth Energy Services Price Performance

Shares of TUSK traded up $0.11 during mid-day trading on Wednesday, hitting $2.32. The stock had a trading volume of 29,908 shares, compared to its average volume of 127,802. The firm has a market cap of $111.65 million, a P/E ratio of -3.57 and a beta of 1.30. The business has a fifty day moving average price of $2.69 and a 200-day moving average price of $2.55. Mammoth Energy Services has a 52 week low of $1.68 and a 52 week high of $4.90.

Analysts Set New Price Targets

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

Insider Activity

In related news, Director Arthur L. Smith sold 20,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $2.51, for a total transaction of $50,200.00. Following the completion of the transaction, the director directly owned 130,034 shares in the company, valued at $326,385.34. The trade was a 13.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 85,000 shares of company stock valued at $213,050 in the last 90 days. Insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Mammoth Energy Services

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in Mammoth Energy Services by 45.8% during the 4th quarter. Bank of America Corp DE now owns 22,882 shares of the energy company's stock valued at $69,000 after purchasing an additional 7,192 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Mammoth Energy Services in the 2nd quarter worth approximately $103,000. Empowered Funds LLC raised its position in shares of Mammoth Energy Services by 8.9% in the 1st quarter. Empowered Funds LLC now owns 159,685 shares of the energy company's stock worth $326,000 after acquiring an additional 13,111 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Mammoth Energy Services by 726.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 185,761 shares of the energy company's stock worth $520,000 after acquiring an additional 163,291 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Mammoth Energy Services by 6.5% in the 2nd quarter. Geode Capital Management LLC now owns 580,659 shares of the energy company's stock worth $1,626,000 after acquiring an additional 35,495 shares in the last quarter. Institutional investors own 79.67% of the company's stock.

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.