TaskUs, Inc. (NASDAQ:TASK) Sees Significant Growth in Short Interest

Key Points

• TaskUs, Inc. experienced a 210.5% increase in short interest in September, reaching a total of 551,800 shares.
• The company's stock price is currently trading around $17.25, with a market capitalization of $1.55 billion and a P/E ratio of 24.98.
• Recent analyst ratings for TaskUs show mixed sentiment, with one strong buy, one buy, and five hold ratings, reflecting an average rating of "Hold" and a consensus price target of $16.88.

TaskUs, Inc. (NASDAQ:TASK - Get Free Report) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 551,800 shares, an increase of 210.5% from the August 31st total of 177,700 shares. Based on an average daily trading volume, of 322,900 shares, the days-to-cover ratio is presently 1.7 days. Based on an average daily trading volume, of 322,900 shares, the days-to-cover ratio is presently 1.7 days.

TaskUs Price Performance

TaskUs stock traded down $0.19 during trading hours on Friday, hitting $17.25. 291,141 shares of the stock were exchanged, compared to its average volume of 385,035. The business's 50-day moving average is $17.43 and its two-hundred day moving average is $16.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.84 and a current ratio of 2.84. TaskUs has a 12 month low of $10.57 and a 12 month high of $19.60. The stock has a market capitalization of $1.55 billion, a P/E ratio of 24.98 and a beta of 2.15.

Analyst Ratings Changes

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

Institutional Investors Weigh In On TaskUs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. bought a new stake in shares of TaskUs during the 1st quarter worth about $63,000. New York State Common Retirement Fund bought a new stake in TaskUs during the 2nd quarter worth approximately $67,000. Quarry LP bought a new stake in TaskUs during the 1st quarter worth approximately $83,000. Voya Investment Management LLC bought a new stake in shares of TaskUs in the 1st quarter valued at $178,000. Finally, Invesco Ltd. bought a new stake in shares of TaskUs in the 1st quarter valued at $182,000. 44.64% of the stock is currently owned by institutional investors and hedge funds.

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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