Target Hospitality (NASDAQ:TH) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Target Hospitality Corp. (NASDAQ:TH) saw unusually-strong trading volume on Monday . Approximately 465,178 shares changed hands during mid-day trading, a decline of 26% from the previous session’s volume of 628,566 shares.The stock last traded at $15.0410 and had previously closed at $14.84.

Analysts Set New Price Targets

A number of equities analysts recently commented on TH shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Target Hospitality in a report on Friday, March 27th. Texas Capital raised Target Hospitality from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Wall Street Zen upgraded Target Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $15.00 price objective (up from $11.00) on shares of Target Hospitality in a research report on Monday, April 6th. Finally, Oppenheimer upped their price objective on shares of Target Hospitality from $11.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Target Hospitality has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Target Hospitality Stock Up 4.3%

The business has a fifty day moving average price of $9.74 and a 200-day moving average price of $8.35. The company has a market cap of $1.55 billion, a P/E ratio of -40.71 and a beta of 1.12.

Target Hospitality (NASDAQ:TH) last announced its earnings results on Wednesday, March 11th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). The firm had revenue of $89.78 million for the quarter, compared to the consensus estimate of $85.20 million. Target Hospitality had a negative return on equity of 8.65% and a negative net margin of 11.58%. As a group, research analysts expect that Target Hospitality Corp. will post 0.65 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Heidi Diane Lewis sold 9,000 shares of Target Hospitality stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $7.34, for a total transaction of $66,060.00. Following the completion of the sale, the executive vice president owned 131,742 shares of the company’s stock, valued at approximately $966,986.28. This trade represents a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Target Hospitality

A number of hedge funds have recently bought and sold shares of the business. Tudor Investment Corp ET AL raised its stake in Target Hospitality by 29.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 291,903 shares of the company’s stock worth $2,475,000 after purchasing an additional 66,322 shares in the last quarter. Capelight Capital Asset Management LP acquired a new position in shares of Target Hospitality during the 4th quarter worth approximately $481,000. Royce & Associates LP acquired a new stake in shares of Target Hospitality in the fourth quarter valued at approximately $2,801,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Target Hospitality in the fourth quarter valued at approximately $517,000. Finally, Procyon Advisors LLC bought a new stake in shares of Target Hospitality in the fourth quarter valued at approximately $151,000. 32.40% of the stock is owned by institutional investors.

Target Hospitality Company Profile

Target Hospitality is a lodging solutions provider specializing in the ownership and operation of modular workforce housing communities across North America. The company serves large-scale clients in the energy, mining, construction and government sectors that require temporary or long-term accommodations for remote workforces. Its housing portfolio includes suite-style units, single-family cabins and “man-camp” dormitories, designed to match project size, duration and workforce composition.

In addition to lodging, Target Hospitality delivers integrated support services such as on-site dining and culinary management, housekeeping, maintenance, facility management and logistics planning.