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

Target Hospitality Corp. (NASDAQ:TH) saw strong trading volume on Thursday . Approximately 424,909 shares traded hands during trading, an increase of 0% from the previous session’s volume of 424,614 shares.The stock last traded at $10.99 and had previously closed at $10.71.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TH. Northland Securities lifted their price objective on Target Hospitality from $9.00 to $11.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Oppenheimer reaffirmed a “market perform” rating on shares of Target Hospitality in a research report on Thursday, November 14th.

Target Hospitality Trading Up 1.9 %

The firm has a market capitalization of $1.08 billion, a PE ratio of 12.50, a P/E/G ratio of 1.79 and a beta of 2.07. The firm has a 50 day simple moving average of $9.08 and a 200 day simple moving average of $8.93.

Institutional Investors Weigh In On Target Hospitality

Several institutional investors and hedge funds have recently added to or reduced their stakes in TH. The Manufacturers Life Insurance Company grew its stake in Target Hospitality by 11.9% during the second quarter. The Manufacturers Life Insurance Company now owns 14,480 shares of the company’s stock valued at $126,000 after acquiring an additional 1,540 shares in the last quarter. Rhumbline Advisers lifted its stake in Target Hospitality by 5.9% in the second quarter. Rhumbline Advisers now owns 46,867 shares of the company’s stock worth $408,000 after purchasing an additional 2,613 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Target Hospitality by 11.1% during the third quarter. Janus Henderson Group PLC now owns 60,585 shares of the company’s stock valued at $471,000 after buying an additional 6,062 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Target Hospitality during the 3rd quarter worth approximately $87,000. Finally, State Street Corp boosted its holdings in Target Hospitality by 1.7% during the 3rd quarter. State Street Corp now owns 725,905 shares of the company’s stock valued at $5,648,000 after acquiring an additional 12,087 shares during the period. Hedge funds and other institutional investors own 32.40% of the company’s stock.

Target Hospitality Company Profile

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.