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

TaskUs, Inc. (NASDAQ:TASK - Get Free Report) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 653,200 shares, a decline of 25.3% from the May 15th total of 874,700 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average daily trading volume, of 478,300 shares, the days-to-cover ratio is currently 1.4 days.

Hedge Funds Weigh In On TaskUs

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its holdings in TaskUs by 71.5% in the 4th quarter. Blue Trust Inc. now owns 1,677 shares of the company's stock valued at $28,000 after buying an additional 699 shares during the period. Harbor Capital Advisors Inc. bought a new stake in TaskUs in the 1st quarter valued at $63,000. BNP Paribas Financial Markets bought a new stake in TaskUs in the 4th quarter valued at $80,000. KLP Kapitalforvaltning AS bought a new stake in TaskUs in the 4th quarter valued at $81,000. Finally, Point72 Asset Management L.P. bought a new stake in TaskUs in the 4th quarter valued at $83,000. 44.64% of the stock is currently owned by institutional investors and hedge funds.

TaskUs Stock Performance

NASDAQ:TASK traded down $0.14 during trading hours on Friday, hitting $16.67. 377,385 shares of the company traded hands, compared to its average volume of 324,970. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 27.33 and a beta of 2.19. TaskUs has a twelve month low of $10.57 and a twelve month high of $19.60. The firm has a 50-day moving average of $15.51 and a 200 day moving average of $15.26. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.45.

Analyst Ratings Changes

A number of analysts have recently weighed in on TASK shares. Royal Bank Of Canada reduced 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 note on Monday, May 12th. Robert W. Baird cut shares of TaskUs from an "outperform" rating to a "neutral" rating and set a $16.50 price objective for the company. in a research note on Monday, May 12th. Baird R W cut shares of TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Finally, William Blair cut shares of TaskUs from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $16.86.

About TaskUs

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.