Target Hospitality (NASDAQ:TH) Shares Gap Down – Here’s Why

Target Hospitality Corp. (NASDAQ:TH) gapped down prior to trading on Thursday . The stock had previously closed at $18.33, but opened at $17.21. Target Hospitality shares last traded at $17.43, with a volume of 1,800,564 shares trading hands.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $15.00 price target (up from $11.00) on shares of Target Hospitality in a research report on Monday, April 6th. Wall Street Zen raised shares of Target Hospitality from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Target Hospitality in a research report on Friday, March 27th. Oppenheimer boosted their price target on shares of Target Hospitality from $18.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Finally, Texas Capital raised shares of Target Hospitality from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Target Hospitality has an average rating of “Moderate Buy” and an average price target of $18.00.

Target Hospitality Trading Down 5.5%

The firm’s 50-day moving average price is $14.34 and its 200-day moving average price is $10.01. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.74 billion, a P/E ratio of -39.32 and a beta of 1.43.

Target Hospitality (NASDAQ:TH) last posted its earnings results on Monday, May 11th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $72.78 million for the quarter, compared to the consensus estimate of $73.20 million. Target Hospitality had a negative return on equity of 11.11% and a negative net margin of 13.47%. As a group, equities research analysts expect that Target Hospitality Corp. will post -0.18 earnings per share for the current fiscal year.

Institutional Trading of Target Hospitality

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in Target Hospitality by 340.9% during the 1st quarter. Bank of America Corp DE now owns 131,198 shares of the company’s stock worth $1,218,000 after acquiring an additional 101,440 shares during the period. Amundi bought a new stake in Target Hospitality during the 1st quarter worth approximately $101,000. Galaxy Digital Capital Management GP LLC bought a new stake in Target Hospitality during the 1st quarter worth approximately $67,000. Renaissance Technologies LLC increased its holdings in Target Hospitality by 4.5% during the 1st quarter. Renaissance Technologies LLC now owns 951,302 shares of the company’s stock worth $8,828,000 after acquiring an additional 40,878 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Target Hospitality by 15.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,081,081 shares of the company’s stock worth $10,032,000 after acquiring an additional 147,950 shares during the period. Institutional investors own 32.40% of the company’s stock.

About Target Hospitality

Target Hospitality is a lodging solutions provider specializing in the ownership and operation of modular workforce housing communities across North America. The company serves large-scale clients in the energy, mining, construction and government sectors that require temporary or long-term accommodations for remote workforces. Its housing portfolio includes suite-style units, single-family cabins and “man-camp” dormitories, designed to match project size, duration and workforce composition.

In addition to lodging, Target Hospitality delivers integrated support services such as on-site dining and culinary management, housekeeping, maintenance, facility management and logistics planning.