Mammoth Energy Services (NASDAQ:TUSK) Stock Breaks Below 50-Day Moving Average - Should You Sell?

Key Points

• Mammoth Energy Services shares fell below their 50-day moving average, trading as low as $2.69 and closing at $2.72, below the $2.99 50-day average.
• Analyst sentiment remains negative: Weiss Ratings downgraded the stock’s sell rating, and the only tracked analyst rates it Sell.
• The company reported a quarterly loss of $0.01 per share on $26.05 million in revenue, while institutional investors collectively own 79.67% of its stock.

Mammoth Energy Services, Inc. (NASDAQ:TUSK - Get Free Report)'s share price passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $2.99 and traded as low as $2.69. Mammoth Energy Services shares last traded at $2.72, with a volume of 46,383 shares changing hands.

Analysts Set New Price Targets

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

Mammoth Energy Services Price Performance

The company has a 50 day simple moving average of $2.99 and a 200-day simple moving average of $2.96. The stock has a market cap of $130.91 million, a P/E ratio of 136.00 and a beta of 1.14.

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

Institutional Investors Weigh In On Mammoth Energy Services

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Mammoth Energy Services during the 2nd quarter valued at $1,326,000. Empowered Funds LLC bought a new stake in Mammoth Energy Services in the second quarter worth $784,000. Round Rock Advisors LLC purchased a new stake in Mammoth Energy Services during the second quarter valued at about $497,000. GSA Capital Partners LLP purchased a new stake in Mammoth Energy Services during the second quarter valued at about $421,000. Finally, Marquette Asset Management LLC purchased a new stake in Mammoth Energy Services during the second quarter valued at about $357,000. Hedge funds and other 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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