Short Interest in TaskUs, Inc. (NASDAQ:TASK) Decreases By 39.7%

Key Points

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TaskUs, Inc. (NASDAQ:TASK - Get Free Report) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 204,500 shares, adecreaseof39.7% from the July 15th total of 339,400 shares. Based on an average daily trading volume, of 416,000 shares, the short-interest ratio is presently 0.5 days. Approximately0.3% of the company's stock are short sold. Approximately0.3% of the company's stock are short sold. Based on an average daily trading volume, of 416,000 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Think Investments LP raised its holdings in shares of TaskUs by 14.8% in the second quarter. Think Investments LP now owns 3,734,665 shares of the company's stock valued at $62,593,000 after buying an additional 481,307 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of TaskUs in the 2nd quarter valued at approximately $16,325,000. Ameriprise Financial Inc. boosted its stake in shares of TaskUs by 7.9% in the fourth quarter. Ameriprise Financial Inc. now owns 957,653 shares of the company's stock valued at $16,223,000 after buying an additional 69,704 shares in the last quarter. Royce & Associates LP grew its holdings in TaskUs by 6.4% during the first quarter. Royce & Associates LP now owns 790,289 shares of the company's stock worth $10,772,000 after acquiring an additional 47,610 shares during the period. Finally, Dalton Investments Inc. raised its position in TaskUs by 10.3% in the first quarter. Dalton Investments Inc. now owns 750,146 shares of the company's stock worth $10,224,000 after acquiring an additional 69,900 shares in the last quarter. Hedge funds and other institutional investors own 44.64% of the company's stock.

TaskUs Trading Down 0.4%

NASDAQ TASK opened at $17.23 on Tuesday. The firm's fifty day moving average price is $16.94 and its 200 day moving average price is $15.39. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 24.99 and a beta of 2.16. TaskUs has a 12 month low of $10.57 and a 12 month high of $19.60. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.84 and a quick ratio of 2.84.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Baird R W downgraded shares of TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Royal Bank Of Canada decreased their price objective on shares of TaskUs from $20.00 to $16.50 and set a "sector perform" rating for the company in a research report on Monday, May 12th. William Blair downgraded shares of TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Robert W. Baird cut TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 price target on the stock. in a research note on Monday, May 12th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $17.40.

TaskUs Company Profile

TaskUs, Inc provides digital outsourcing services for companies in Philippines, the United States, India, and internationally. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through non-voice digital channels; and other solutions, including experience and customer care services for new product or market launches, and customer acquisition solutions.

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