Mammoth Energy Services Inc (NASDAQ:TUSK) Short Interest Down 10.9% in October

Mammoth Energy Services Inc (NASDAQ:TUSK) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 2,120,000 shares, a drop of 10.9% from the September 30th total of 2,380,000 shares. Currently, 6.1% of the company’s shares are sold short. Based on an average daily volume of 428,900 shares, the days-to-cover ratio is currently 4.9 days.

TUSK opened at $1.36 on Monday. Mammoth Energy Services has a fifty-two week low of $1.22 and a fifty-two week high of $25.97. The business has a 50-day moving average of $1.96 and a 200-day moving average of $5.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.24 and a quick ratio of 2.68. The company has a market capitalization of $60.33 million, a PE ratio of 0.24 and a beta of 1.61.

Mammoth Energy Services (NASDAQ:TUSK) last posted its quarterly earnings results on Thursday, November 7th. The energy company reported ($0.79) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.40). Mammoth Energy Services had a return on equity of 7.65% and a net margin of 5.98%. The firm had revenue of $113.40 million for the quarter, compared to analysts’ expectations of $153.52 million. During the same period last year, the business earned $1.54 earnings per share. The firm’s revenue for the quarter was down 70.5% on a year-over-year basis. On average, equities research analysts expect that Mammoth Energy Services will post -0.71 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on the company. Imperial Capital downgraded Mammoth Energy Services from an “outperform” rating to an “outperform” rating and reduced their price objective for the stock from $6.00 to $1.50 in a research note on Monday, November 11th. Johnson Rice downgraded Mammoth Energy Services from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th. TheStreet downgraded Mammoth Energy Services from a “c-” rating to a “d” rating in a research note on Friday, November 8th. Capital One Financial downgraded Mammoth Energy Services from an “overweight” rating to an “equal weight” rating and set a $5.00 price objective for the company. in a research note on Friday, August 2nd. Finally, Barclays downgraded Mammoth Energy Services from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $6.50 to $3.50 in a research note on Monday, September 30th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $5.17.

In related news, Director Wexford Capital Lp purchased 35,904 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $1.36 per share, for a total transaction of $48,829.44. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Advisors LP raised its stake in shares of Mammoth Energy Services by 37.1% in the 2nd quarter. First Trust Advisors LP now owns 170,027 shares of the energy company’s stock valued at $1,170,000 after acquiring an additional 46,008 shares in the last quarter. BlackRock Inc. raised its stake in shares of Mammoth Energy Services by 2.6% in the 2nd quarter. BlackRock Inc. now owns 863,021 shares of the energy company’s stock valued at $5,937,000 after acquiring an additional 21,553 shares in the last quarter. Morgan Stanley raised its stake in shares of Mammoth Energy Services by 718.0% in the 2nd quarter. Morgan Stanley now owns 94,441 shares of the energy company’s stock valued at $649,000 after acquiring an additional 82,895 shares in the last quarter. Nuveen Asset Management LLC bought a new position in shares of Mammoth Energy Services in the 2nd quarter valued at approximately $2,026,000. Finally, Janus Henderson Group PLC raised its stake in shares of Mammoth Energy Services by 31.5% in the 2nd quarter. Janus Henderson Group PLC now owns 1,929,357 shares of the energy company’s stock valued at $13,274,000 after acquiring an additional 462,224 shares in the last quarter. 78.67% of the stock is owned by institutional investors.

About Mammoth Energy Services

Mammoth Energy Services, Inc operates as an oilfield service company. The company operates in three segments: Infrastructure Services, Pressure Pumping Services, and Natural Sand Proppant Services. The Infrastructure Services segment offers a range of services on electric transmission and distribution networks, and substation facilities, including the construction, upgrade, maintenance, and repair of high voltage transmission lines, substations, and lower voltage overhead and underground distribution systems; storm repair and restoration services; and commercial services comprising installation, maintenance, and repair of commercial wiring.

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