Target Hospitality (NASDAQ:TH) Trading Down 4% – Here’s Why

Shares of Target Hospitality Corp. (NASDAQ:TH) dropped 4% during trading on Friday . The stock traded as low as $5.65 and last traded at $5.66. Approximately 56,810 shares traded hands during trading, a decline of 91% from the average daily volume of 610,735 shares. The stock had previously closed at $5.89.

Analyst Ratings Changes

Several brokerages have weighed in on TH. Northland Capmk upgraded shares of Target Hospitality from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Stifel Nicolaus reduced their target price on Target Hospitality from $10.00 to $5.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. Northland Securities raised Target Hospitality from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $11.00 to $15.00 in a report on Wednesday, January 29th. Finally, Oppenheimer restated a “market perform” rating on shares of Target Hospitality in a report on Thursday, November 14th.

Target Hospitality Stock Performance

The company has a 50 day moving average of $8.96 and a 200 day moving average of $8.78. The stock has a market capitalization of $571.88 million, a price-to-earnings ratio of 6.64, a P/E/G ratio of 1.81 and a beta of 2.15.

Institutional Trading of Target Hospitality

Institutional investors have recently made changes to their positions in the company. Creative Planning purchased a new position in shares of Target Hospitality in the third quarter valued at approximately $145,000. Victory Capital Management Inc. boosted its position in Target Hospitality by 48.5% in the 3rd quarter. Victory Capital Management Inc. now owns 37,504 shares of the company’s stock valued at $292,000 after buying an additional 12,242 shares during the period. Intech Investment Management LLC acquired a new position in shares of Target Hospitality in the third quarter worth $87,000. Charles Schwab Investment Management Inc. increased its position in shares of Target Hospitality by 28.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 271,590 shares of the company’s stock worth $2,113,000 after acquiring an additional 60,569 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Target Hospitality by 154.0% in the third quarter. BNP Paribas Financial Markets now owns 83,708 shares of the company’s stock valued at $651,000 after acquiring an additional 50,758 shares in the last quarter. 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.