Mammoth Energy Services (NASDAQ:TUSK) Stock Price Up 2.7% - Here's What Happened

Mammoth Energy Services, Inc. (NASDAQ:TUSK - Get Free Report) was up 2.7% during mid-day trading on Wednesday . The company traded as high as $2.69 and last traded at $2.67. Approximately 69,691 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 127,729 shares. The stock had previously closed at $2.60.

Wall Street Analyst Weigh In

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

Mammoth Energy Services Stock Up 1.9%

The stock's 50 day moving average price is $2.69 and its 200-day moving average price is $2.61. The stock has a market capitalization of $130.91 million, a PE ratio of -0.67 and a beta of 1.34.

Mammoth Energy Services (NASDAQ:TUSK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The energy company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $62.47 million during the quarter. Mammoth Energy Services had a negative return on equity of 73.54% and a negative net margin of 94.61%.

Insider Buying and Selling at Mammoth Energy Services

In related news, Director Arthur L. Smith sold 50,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $2.51, for a total transaction of $125,500.00. Following the completion of the transaction, the director owned 150,034 shares in the company, valued at approximately $376,585.34. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 85,000 shares of company stock worth $213,050 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mammoth Energy Services

A number of hedge funds and other institutional investors have recently modified their holdings of TUSK. Rangeley Capital LLC bought a new position in shares of Mammoth Energy Services during the fourth quarter worth $1,297,000. Dimensional Fund Advisors LP lifted its position in Mammoth Energy Services by 11.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 991,223 shares of the energy company's stock valued at $2,973,000 after purchasing an additional 98,295 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in Mammoth Energy Services by 14.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 460,274 shares of the energy company's stock valued at $1,381,000 after purchasing an additional 57,017 shares during the last quarter. NBC Securities Inc. raised its stake in shares of Mammoth Energy Services by 101,578.6% in the first quarter. NBC Securities Inc. now owns 56,940 shares of the energy company's stock valued at $116,000 after acquiring an additional 56,884 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Mammoth Energy Services by 465.2% in the fourth quarter. JPMorgan Chase & Co. now owns 63,079 shares of the energy company's stock valued at $189,000 after acquiring an additional 51,919 shares during the period. Institutional investors own 79.67% of the company's stock.

About Mammoth Energy Services

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.