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

Mammoth Energy Services, Inc. (NASDAQ:TUSK)’s stock price crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $2.95 and traded as high as $3.25. Mammoth Energy Services shares last traded at $3.18, with a volume of 493,848 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Mammoth Energy Services from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company presently has an average rating of “Sell”.

Mammoth Energy Services Stock Performance

The company has a fifty day simple moving average of $2.95 and a two-hundred day simple moving average of $2.77. The firm has a market capitalization of $153.05 million, a PE ratio of 10.97 and a beta of 1.14.

Mammoth Energy Services (NASDAQ:TUSK) last issued its earnings results on Friday, October 30th. The energy company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.21. Mammoth Energy Services had a negative return on equity of 8.10% and a net margin of 0.98%. The business had revenue of $21.35 million during the quarter, compared to the consensus estimate of $58.10 million.

Hedge Funds Weigh In On Mammoth Energy Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AXQ Capital LP purchased a new position in Mammoth Energy Services in the second quarter valued at approximately $45,000. Round Rock Advisors LLC purchased a new stake in shares of Mammoth Energy Services during the second quarter worth about $497,000. Susquehanna International Group LLP grew its stake in Mammoth Energy Services by 37.5% in the 2nd quarter. Susquehanna International Group LLP now owns 49,920 shares of the energy company’s stock valued at $162,000 after acquiring an additional 13,621 shares during the period. Hsbc Holdings PLC purchased a new stake in Mammoth Energy Services in the second quarter valued at approximately $108,000. Finally, Archer Investment Corp purchased a new stake in shares of Mammoth Energy Services in the 2nd quarter valued at about $27,000. Institutional investors own 79.67% of the company’s stock.

Mammoth Energy Services Company Profile

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.