Target Hospitality Corp. (NASDAQ:TH) Sees Significant Increase in Short Interest

Target Hospitality Corp. (NASDAQ:TH) was the recipient of a significant increase in short interest in May. As of May 31st, there was short interest totalling 2,330,000 shares, an increase of 23.9% from the May 15th total of 1,880,000 shares. Currently, 7.3% of the company’s stock are short sold. Based on an average trading volume of 511,600 shares, the days-to-cover ratio is presently 4.6 days.

Institutional Investors Weigh In On Target Hospitality

Large investors have recently made changes to their positions in the company. Conversant Capital LLC increased its stake in Target Hospitality by 2.1% in the 4th quarter. Conversant Capital LLC now owns 4,889,046 shares of the company’s stock valued at $47,253,000 after buying an additional 100,000 shares during the period. Vanguard Group Inc. increased its stake in Target Hospitality by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 1,965,362 shares of the company’s stock valued at $18,995,000 after buying an additional 79,561 shares during the period. Appian Way Asset Management LP acquired a new position in Target Hospitality in the 1st quarter valued at approximately $11,872,000. Philadelphia Financial Management of San Francisco LLC acquired a new position in Target Hospitality in the 1st quarter valued at approximately $11,441,000. Finally, Empyrean Capital Partners LP acquired a new position in Target Hospitality in the 4th quarter valued at approximately $9,781,000. Institutional investors and hedge funds own 32.40% of the company’s stock.

Target Hospitality Stock Performance

Shares of TH stock opened at $7.08 on Friday. Target Hospitality has a one year low of $4.00 and a one year high of $11.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.97 and a current ratio of 1.97. The company has a 50 day moving average price of $6.97 and a 200 day moving average price of $7.76. The firm has a market capitalization of $703.47 million, a price-to-earnings ratio of 16.47 and a beta of 1.85.

Target Hospitality (NASDAQ:TH) last released its quarterly earnings data on Monday, May 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Target Hospitality had a return on equity of 11.34% and a net margin of 12.71%. The business had revenue of $69.90 million for the quarter, compared to analysts’ expectations of $65.37 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Target Hospitality’s quarterly revenue was down 34.5% compared to the same quarter last year. Sell-side analysts anticipate that Target Hospitality will post 0.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TH. Stifel Nicolaus increased their price target on shares of Target Hospitality from $5.00 to $7.50 and gave the stock a “hold” rating in a research note on Monday, March 31st. Wall Street Zen raised shares of Target Hospitality from a “sell” rating to a “hold” rating in a research report on Saturday, June 14th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Target Hospitality currently has a consensus rating of “Moderate Buy” and an average target price of $11.25.

Target Hospitality Company Profile

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services – South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.