Mammoth Energy Services (NASDAQ:TUSK) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Mammoth Energy Services, Inc. (NASDAQ:TUSK) crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $2.99 and traded as low as $2.69. Mammoth Energy Services shares last traded at $2.72, with a volume of 46,383 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Mammoth Energy Services from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Mammoth Energy Services Trading Down 1.4%

The stock’s fifty day moving average is $2.99 and its 200 day moving average is $2.96. The company has a market capitalization of $130.91 million, a P/E ratio of 136.00 and a beta of 1.14.

Mammoth Energy Services (NASDAQ:TUSK) last announced its quarterly 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 firm had revenue of $26.05 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Mammoth Energy Services during the 2nd quarter valued at approximately $1,326,000. Empowered Funds LLC bought a new stake in shares of Mammoth Energy Services in the 2nd quarter worth approximately $784,000. Round Rock Advisors LLC bought a new stake in shares of Mammoth Energy Services in the 2nd quarter worth approximately $497,000. GSA Capital Partners LLP purchased a new position in shares of Mammoth Energy Services during the second quarter valued at approximately $421,000. Finally, Marquette Asset Management LLC bought a new position in shares of Mammoth Energy Services during the second quarter valued at approximately $357,000. Hedge funds and other institutional investors 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.