TaskUs, Inc. (NASDAQ:TASK) Short Interest Update

Key Points

• Short interest in TaskUs, Inc. dropped by 27.9% in August, with a total of 177,700 shares shorted as of August 31st, now representing only 0.3% of the company's shares.
• Analysts have mixed views on TaskUs, with Morgan Stanley downgrading the stock from "overweight" to "equal weight" and Zacks Research upgrading it to "strong-buy," leading to an average rating of "Hold" with a target price of $16.88.
• Institutional investors hold 44.64% of TaskUs stock, with various funds recently purchasing new stakes, including significant investments from the New York State Common Retirement Fund and Point72 Asset Management.

TaskUs, Inc. (NASDAQ:TASK - Get Free Report) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 177,700 shares, a decrease of 27.9% from the August 15th total of 246,400 shares. Based on an average daily trading volume, of 276,600 shares, the short-interest ratio is currently 0.6 days. Approximately 0.3% of the shares of the stock are short sold. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 276,600 shares, the short-interest ratio is currently 0.6 days.

TaskUs Price Performance

NASDAQ TASK traded down $0.01 on Friday, reaching $17.54. 845,508 shares of the company's stock traded hands, compared to its average volume of 523,289. The stock has a market cap of $1.58 billion, a PE ratio of 25.42 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. The stock has a 50-day simple moving average of $17.31 and a 200 day simple moving average of $15.78.

Institutional Trading of TaskUs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TASK. Harbor Capital Advisors Inc. purchased a new stake in TaskUs in the first quarter worth $63,000. New York State Common Retirement Fund purchased a new stake in TaskUs in the second quarter worth $67,000. BNP Paribas Financial Markets purchased a new stake in TaskUs in the fourth quarter worth $80,000. Point72 Asset Management L.P. purchased a new stake in TaskUs in the fourth quarter worth $83,000. Finally, Quarry LP purchased a new stake in TaskUs in the first quarter worth $83,000. Hedge funds and other institutional investors own 44.64% of the company's stock.

Wall Street Analyst Weigh In

TASK has been the topic of several research analyst reports. Morgan Stanley cut shares of TaskUs from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $21.00 to $16.50 in a research report on Tuesday, September 9th. Zacks Research upgraded shares of TaskUs from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $16.88.

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.