EquipmentShare.com (NASDAQ:EQPT) Trading Down 6.7% – Here’s What Happened

EquipmentShare.com Inc (NASDAQ:EQPT) shares traded down 6.7% during mid-day trading on Friday . The stock traded as low as $21.61 and last traded at $21.3210. 105,600 shares changed hands during trading, a decline of 94% from the average session volume of 1,798,148 shares. The stock had previously closed at $22.86.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. KeyCorp assumed coverage on EquipmentShare.com in a research note on Tuesday, February 17th. They set a “sector weight” rating on the stock. Oppenheimer assumed coverage on EquipmentShare.com in a research report on Tuesday, February 17th. They issued an “outperform” rating and a $39.00 target price on the stock. Truist Financial reaffirmed a “buy” rating and issued a $41.00 target price (up from $34.00) on shares of EquipmentShare.com in a research report on Friday, May 15th. The Goldman Sachs Group assumed coverage on EquipmentShare.com in a research report on Tuesday, February 17th. They issued a “buy” rating and a $51.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on EquipmentShare.com from $35.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, April 13th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $40.25.

EquipmentShare.com Price Performance

The business has a 50-day simple moving average of $21.55.

EquipmentShare.com (NASDAQ:EQPT) last issued its earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.15. The company had revenue of $989.00 million during the quarter. The company’s revenue for the quarter was up 38.1% compared to the same quarter last year. As a group, research analysts predict that EquipmentShare.com Inc will post 0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other EquipmentShare.com news, Director Naveen Bhatia purchased 10,000 shares of the stock in a transaction dated Friday, May 15th. The shares were bought at an average cost of $24.22 per share, with a total value of $242,200.00. Following the completion of the acquisition, the director owned 312,000 shares of the company’s stock, valued at approximately $7,556,640. This trade represents a 3.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director W Bryan Hill purchased 21,803 shares of the stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of $22.89 per share, for a total transaction of $499,070.67. Following the completion of the acquisition, the director directly owned 35,794 shares of the company’s stock, valued at approximately $819,324.66. This trade represents a 155.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

About EquipmentShare.com

EquipmentShare.com Inc provides integrated, full-service construction solutions across equipment rental, sales and technology. EquipmentShare.com Inc is based in Columbia, Missouri.