EquipmentShare.com (NASDAQ:EQPT) Stock Price Down 8.6% – Here’s What Happened

EquipmentShare.com Inc (NASDAQ:EQPT)’s share price fell 8.6% on Wednesday . The stock traded as low as $18.14 and last traded at $18.2280. 1,696,203 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 1,796,600 shares. The stock had previously closed at $19.95.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EQPT. Zacks Research raised shares of EquipmentShare.com to a “hold” rating in a research note on Wednesday, February 18th. Wells Fargo & Company reduced their price objective on shares of EquipmentShare.com from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, April 13th. Oppenheimer began coverage on shares of EquipmentShare.com in a research note on Tuesday, February 17th. They issued an “outperform” rating and a $39.00 price objective on the stock. Robert W. Baird reduced their price objective on shares of EquipmentShare.com from $63.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Finally, The Goldman Sachs Group began coverage on shares of EquipmentShare.com in a research note on Tuesday, February 17th. They issued a “buy” rating and a $51.00 price objective on the stock. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, EquipmentShare.com currently has a consensus rating of “Hold” and a consensus target price of $40.25.

EquipmentShare.com Trading Down 7.5%

The company has a debt-to-equity ratio of 2.71, a current ratio of 2.47 and a quick ratio of 1.90. The stock has a fifty day moving average price of $21.33.

EquipmentShare.com (NASDAQ:EQPT) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. The business had revenue of $989.00 million for the quarter. EquipmentShare.com’s quarterly revenue was up 38.1% compared to the same quarter last year. Sell-side analysts predict that EquipmentShare.com Inc will post 0.55 earnings per share for the current year.

Insider Transactions at EquipmentShare.com

In related news, Director Naveen Bhatia acquired 10,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were bought at an average price of $24.22 per share, with a total value of $242,200.00. Following the transaction, the director directly owned 312,000 shares of the company’s stock, valued at $7,556,640. This trade represents a 3.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director W Bryan Hill acquired 21,803 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were bought at an average cost of $22.89 per share, for a total transaction of $499,070.67. Following the transaction, the director directly owned 35,794 shares in the company, valued at approximately $819,324.66. This represents a 155.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

About EquipmentShare.com

EquipmentShare.com Inc provides integrated, full-service construction solutions across equipment rental, sales and technology. EquipmentShare.com Inc is based in Columbia, Missouri.