Mammoth Energy Services (NASDAQ:TUSK) Shares Cross Above 50 Day Moving Average – Here’s Why

Mammoth Energy Services, Inc. (NASDAQ:TUSK)’s share price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $2.99 and traded as high as $3.34. Mammoth Energy Services shares last traded at $3.32, with a volume of 111,338 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TUSK shares. Weiss Ratings cut shares of Mammoth Energy Services from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Wall Street Zen raised shares of Mammoth Energy Services from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Mammoth Energy Services presently has a consensus rating of “Sell”.

Mammoth Energy Services Trading Down 0.1%

The stock’s 50-day simple moving average is $3.00 and its 200-day simple moving average is $2.84. The stock has a market cap of $149.53 million, a price-to-earnings ratio of 155.35 and a beta of 1.18.

Mammoth Energy Services (NASDAQ:TUSK) last announced its earnings results on Friday, August 7th. The energy company reported ($0.01) earnings per share (EPS) for the quarter. Mammoth Energy Services had a negative return on equity of 8.10% and a net margin of 0.98%.The business had revenue of $26.05 million for the quarter.

Insider Activity

In other Mammoth Energy Services news, insider Wexford Capital Lp bought 4,019,574 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were purchased at an average price of $2.60 per share, for a total transaction of $10,450,892.40. Following the transaction, the insider directly owned 10,620,789 shares in the company, valued at approximately $27,614,051.40. This trade represents a 60.89% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TUSK. AXQ Capital LP acquired a new stake in Mammoth Energy Services in the second quarter valued at approximately $45,000. Round Rock Advisors LLC acquired a new stake in Mammoth Energy Services in the second quarter valued at approximately $497,000. Susquehanna International Group LLP boosted its position in Mammoth Energy Services by 37.5% in the second quarter. Susquehanna International Group LLP now owns 49,920 shares of the energy company’s stock valued at $162,000 after buying an additional 13,621 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Mammoth Energy Services in the second quarter valued at approximately $108,000. Finally, Archer Investment Corp acquired a new stake in Mammoth Energy Services in the second quarter valued at approximately $27,000. Institutional investors and hedge funds own 79.67% of the company’s stock.

About Mammoth Energy Services

Mammoth Energy Services, Inc (NASDAQ:TUSK) is an energy infrastructure and services company headquartered in Oklahoma City, Oklahoma. The company provides services to electric utilities, oil and gas producers, and other energy-related customers in the United States and Canada.

Its infrastructure services include the construction, maintenance, repair, and restoration of electric transmission and distribution systems, substations, and related facilities. Mammoth also provides engineering, procurement, and construction services, as well as emergency response and storm-recovery work for utility infrastructure.

Historically, the company has also operated businesses supporting oil and gas exploration and production.