Mammoth Energy Services' (TUSK) Sell (E+) Rating Reiterated at Weiss Ratings

Key Points

• Mammoth Energy Services (NASDAQ:TUSK) has had its "sell (e+)" rating reiterated by Weiss Ratings, signaling ongoing skepticism about the stock's performance.
• The company reported a significant earnings miss, with a loss of ($0.74) per share against a consensus estimate of ($0.06), alongside revenues of just $16.41 million, far below the expected $43.70 million.
• Institutional investors hold a substantial 79.67% of Mammoth Energy Services' stock, with notable increases in holdings from firms like JPMorgan Chase and Adage Capital Partners during recent quarters.

Mammoth Energy Services (NASDAQ:TUSK - Get Free Report)'s stock had its "sell (e+)" rating restated by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Mammoth Energy Services Price Performance

TUSK stock traded up $0.05 during midday trading on Wednesday, hitting $2.33. 78,393 shares of the stock traded hands, compared to its average volume of 117,492. The stock's fifty day simple moving average is $2.36 and its 200-day simple moving average is $2.48. Mammoth Energy Services has a 1-year low of $1.68 and a 1-year high of $4.90. The firm has a market cap of $112.28 million, a P/E ratio of -3.58 and a beta of 1.43.

Mammoth Energy Services (NASDAQ:TUSK - Get Free Report) last announced its earnings results on Friday, August 8th. The energy company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.68). The company had revenue of $16.41 million during the quarter, compared to analyst estimates of $43.70 million. Mammoth Energy Services had a negative net margin of 18.13% and a negative return on equity of 29.24%.

Hedge Funds Weigh In On Mammoth Energy Services

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. boosted its holdings in Mammoth Energy Services by 10.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,575,000 shares of the energy company's stock valued at $12,810,000 after purchasing an additional 425,000 shares during the last quarter. Geode Capital Management LLC raised its stake 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 valued at $1,626,000 after acquiring an additional 35,495 shares during the period. Bridgeway Capital Management LLC increased its position in shares of Mammoth Energy Services by 4.4% in the 2nd quarter. Bridgeway Capital Management LLC now owns 350,454 shares of the energy company's stock valued at $981,000 after purchasing an additional 14,769 shares during the last quarter. JPMorgan Chase & Co. increased 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 valued at $520,000 after purchasing an additional 163,291 shares during the last quarter. Finally, Empowered Funds LLC increased 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 valued at $326,000 after purchasing an additional 13,111 shares during the last quarter. 79.67% of the stock is currently owned by institutional investors and hedge funds.

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.

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