Mammoth Energy Services (NASDAQ:TUSK) Shares Cross Below 50 Day Moving Average - Here's Why

Key Points

• Mammoth Energy Services shares fell below their 50-day moving average, trading as low as $2.96 compared with the $3.00 average, before last trading at $3.02.
• Analyst sentiment remains negative: Weiss Ratings downgraded the stock’s “sell” rating, and MarketBeat reports an average rating of “Sell.”
• The company reported a quarterly loss of $0.01 per share on $26.05 million in revenue, while institutional investors own approximately 79.67% of its shares.

Mammoth Energy Services, Inc. (NASDAQ:TUSK - Get Free Report) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $3.00 and traded as low as $2.96. Mammoth Energy Services shares last traded at $3.02, with a volume of 99,342 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Mammoth Energy Services from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of "Sell".

Mammoth Energy Services Stock Down 0.7%

The stock has a market capitalization of $145.35 million, a price-to-earnings ratio of 151.00 and a beta of 1.18. The business's 50 day simple moving average is $3.00 and its 200-day simple moving average is $2.86.

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

Institutional Trading of Mammoth Energy Services

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AXQ Capital LP bought a new position in Mammoth Energy Services in the second quarter valued at about $45,000. Round Rock Advisors LLC acquired a new position in Mammoth Energy Services in the 2nd quarter valued at approximately $497,000. Susquehanna International Group LLP raised its stake in shares of Mammoth Energy Services by 37.5% during the second quarter. Susquehanna International Group LLP now owns 49,920 shares of the energy company's stock valued at $162,000 after acquiring an additional 13,621 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Mammoth Energy Services during the second quarter worth $108,000. Finally, Archer Investment Corp bought a new position in Mammoth Energy Services during the 2nd quarter worth $27,000. Institutional investors own 79.67% of the company's stock.

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.

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