Target Hospitality (NASDAQ:TH) Shares Gap Up – Time to Buy?

Target Hospitality Corp. (NASDAQ:TH) gapped up before the market opened on Tuesday . The stock had previously closed at $6.54, but opened at $6.90. Target Hospitality shares last traded at $6.9730, with a volume of 129,854 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TH. Stifel Nicolaus reaffirmed a “buy” rating and set a $11.00 price target on shares of Target Hospitality in a report on Tuesday, December 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Target Hospitality in a report on Monday, December 29th. Finally, Wall Street Zen raised shares of Target Hospitality from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Target Hospitality currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Target Hospitality Price Performance

The firm has a market capitalization of $687.48 million, a price-to-earnings ratio of -62.62 and a beta of 1.36. The company’s 50 day moving average is $7.64 and its 200 day moving average is $7.85. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling

In related news, EVP Heidi Diane Lewis sold 13,456 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $8.50, for a total transaction of $114,376.00. Following the sale, the executive vice president owned 140,742 shares of the company’s stock, valued at $1,196,307. This represents a 8.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen Robertson acquired 125,000 shares of the stock in a transaction on Wednesday, December 3rd. The shares were bought at an average price of $7.94 per share, for a total transaction of $992,500.00. Following the purchase, the director owned 445,000 shares in the company, valued at approximately $3,533,300. This trade represents a 39.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 68.00% of the company’s stock.

Institutional Trading of Target Hospitality

Large investors have recently modified their holdings of the stock. IFP Advisors Inc increased its position in shares of Target Hospitality by 88.0% in the third quarter. IFP Advisors Inc now owns 4,002 shares of the company’s stock worth $35,000 after purchasing an additional 1,873 shares during the period. Russell Investments Group Ltd. increased its holdings in Target Hospitality by 121.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company’s stock valued at $38,000 after buying an additional 2,465 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Target Hospitality in the 3rd quarter valued at approximately $44,000. Tripletail Wealth Management LLC bought a new stake in shares of Target Hospitality during the 3rd quarter worth approximately $55,000. Finally, FourThought Financial Partners LLC acquired a new stake in shares of Target Hospitality during the 3rd quarter worth approximately $95,000. 32.40% of the stock is owned by institutional investors and hedge funds.

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.