Short Interest in Target Hospitality Corp. (NASDAQ:TH) Expands By 23.9%

Target Hospitality Corp. (NASDAQ:TH - Get Free Report) was the target of a significant increase in short interest in May. As of May 31st, there was short interest totalling 2,330,000 shares, an increase of 23.9% from the May 15th total of 1,880,000 shares. Based on an average daily trading volume, of 511,600 shares, the days-to-cover ratio is presently 4.6 days. Currently, 7.3% of the company's stock are sold short.

Institutional Trading of Target Hospitality

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Target Hospitality by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 277,557 shares of the company's stock worth $2,683,000 after acquiring an additional 5,967 shares during the last quarter. Victory Capital Management Inc. grew its stake in Target Hospitality by 18.4% in the fourth quarter. Victory Capital Management Inc. now owns 44,389 shares of the company's stock valued at $429,000 after purchasing an additional 6,885 shares in the last quarter. AlphaQuest LLC increased its position in Target Hospitality by 275.9% in the 4th quarter. AlphaQuest LLC now owns 4,578 shares of the company's stock worth $44,000 after purchasing an additional 3,360 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Target Hospitality during the 4th quarter worth about $401,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Target Hospitality during the 4th quarter worth about $2,705,000. Institutional investors and hedge funds own 32.40% of the company's stock.

Target Hospitality Stock Performance

NASDAQ TH traded up $0.10 on Wednesday, hitting $7.08. The stock had a trading volume of 411,691 shares, compared to its average volume of 555,460. The company's 50-day moving average is $6.96 and its two-hundred day moving average is $7.77. Target Hospitality has a one year low of $4.00 and a one year high of $11.10. The stock has a market cap of $703.47 million, a price-to-earnings ratio of 16.47 and a beta of 1.85. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.10.

Target Hospitality (NASDAQ:TH - Get Free Report) last announced its quarterly earnings results on Monday, May 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03). The business had revenue of $69.90 million for the quarter, compared to analyst estimates of $65.37 million. Target Hospitality had a return on equity of 11.34% and a net margin of 12.71%. The company's revenue was down 34.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 EPS. On average, analysts expect that Target Hospitality will post 0.65 earnings per share for the current year.

Analysts Set New Price Targets

TH has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price target on Target Hospitality from $5.00 to $7.50 and gave the stock a "hold" rating in a research note on Monday, March 31st. Wall Street Zen upgraded Target Hospitality from a "sell" rating to a "hold" rating in a report on Saturday. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $11.25.

About Target Hospitality

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services - South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.

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