Short Interest in Target Hospitality Corp. (NASDAQ:TH) Increases By 57.3%

Target Hospitality Corp. (NASDAQ:TH) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,840,000 shares, a growth of 57.3% from the August 15th total of 1,170,000 shares. Based on an average daily volume of 625,100 shares, the short-interest ratio is presently 2.9 days. Currently, 5.8% of the shares of the company are short sold.

Target Hospitality Stock Performance

NASDAQ TH traded down $0.06 during mid-day trading on Friday, reaching $9.81. 146,901 shares of the stock were exchanged, compared to its average volume of 545,089. Target Hospitality has a 1 year low of $6.11 and a 1 year high of $16.73. The business’s 50 day moving average is $9.51 and its 200-day moving average is $9.87. The company has a market capitalization of $983.72 million, a P/E ratio of 7.21, a P/E/G ratio of 1.07 and a beta of 2.09.

Target Hospitality (NASDAQ:TH) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $100.72 million during the quarter, compared to analyst estimates of $101.25 million. Target Hospitality had a return on equity of 30.89% and a net margin of 23.97%. The business’s revenue was down 29.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 earnings per share. Equities analysts predict that Target Hospitality will post 0.62 earnings per share for the current fiscal year.

Institutional Trading of Target Hospitality

Several hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in Target Hospitality by 11.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,480 shares of the company’s stock worth $126,000 after buying an additional 1,540 shares during the last quarter. Atlas Merchant Capital LLC acquired a new position in shares of Target Hospitality during the 2nd quarter worth $1,306,000. DRW Securities LLC acquired a new stake in shares of Target Hospitality during the second quarter valued at $1,456,000. Gabelli Funds LLC increased its stake in shares of Target Hospitality by 207.0% during the 2nd quarter. Gabelli Funds LLC now owns 46,049 shares of the company’s stock valued at $401,000 after acquiring an additional 31,049 shares during the last quarter. Finally, Denali Advisors LLC grew its stake in Target Hospitality by 856.2% during the second quarter. Denali Advisors LLC now owns 185,500 shares of the company’s stock worth $1,616,000 after buying an additional 166,100 shares during the period. Hedge funds and other institutional investors own 32.40% of the company’s stock.

About Target Hospitality

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.