Target Hospitality Sees Unusually High Options Volume (NASDAQ:TH)

Target Hospitality Corp. (NASDAQ:TH) was the target of unusually large options trading on Wednesday. Stock traders bought 11,258 call options on the company. This represents an increase of 1,958% compared to the typical daily volume of 547 call options.

Analyst Ratings Changes

Several research analysts recently issued reports on TH shares. Stifel Nicolaus set a $26.00 price target on shares of Target Hospitality in a research report on Thursday, August 27th. Northland Securities set a $25.00 price objective on shares of Target Hospitality in a research report on Thursday, August 27th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $23.00 price objective on shares of Target Hospitality in a research report on Thursday, August 27th. Oppenheimer boosted their target price on shares of Target Hospitality from $24.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 8th. Finally, Morgan Stanley upped their target price on shares of Target Hospitality from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Target Hospitality presently has an average rating of “Moderate Buy” and an average price target of $25.20.

Target Hospitality Trading Up 16.3%

Target Hospitality stock traded up $1.68 during trading hours on Wednesday, reaching $11.98. 1,175,680 shares of the company’s stock traded hands, compared to its average volume of 1,418,156. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -26.02 and a beta of 1.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.65 and a current ratio of 0.65. Target Hospitality has a fifty-two week low of $6.10 and a fifty-two week high of $21.76. The firm’s 50 day moving average is $17.19 and its 200-day moving average is $14.84.

Target Hospitality (NASDAQ:TH) last issued its quarterly earnings results on Monday, November 9th. The company reported ($0.09) EPS for the quarter. The business had revenue of $129.06 million for the quarter, compared to analyst estimates of $118.35 million. Target Hospitality had a negative return on equity of 11.92% and a negative net margin of 12.23%. On average, analysts predict that Target Hospitality will post -0.04 earnings per share for the current year.

Insider Buying and Selling

In other Target Hospitality news, CEO James Archer acquired 13,385 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was purchased at an average price of $18.69 per share, for a total transaction of $250,165.65. Following the transaction, the chief executive officer owned 1,845,441 shares in the company, valued at $34,491,292.29. This trade represents a 0.73% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Troy C. Schrenk acquired 5,907 shares of Target Hospitality stock in a transaction on Friday, September 18th. The stock was acquired at an average cost of $21.16 per share, for a total transaction of $124,992.12. Following the purchase, the insider owned 216,995 shares of the company’s stock, valued at approximately $4,591,614.20. This represents a 2.80% increase in their position. The SEC filing for this purchase provides additional information. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Target Hospitality

Hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new position in Target Hospitality in the second quarter valued at about $27,000. Sterling Capital Management LLC lifted its holdings in shares of Target Hospitality by 351.4% during the 3rd quarter. Sterling Capital Management LLC now owns 1,431 shares of the company’s stock valued at $28,000 after purchasing an additional 1,114 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Target Hospitality by 16.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,160 shares of the company’s stock valued at $121,000 after purchasing an additional 863 shares in the last quarter. Galaxy Digital Capital Management GP LLC acquired a new position in shares of Target Hospitality in the 1st quarter valued at approximately $67,000. Finally, State of Wyoming acquired a new position in shares of Target Hospitality in the 2nd quarter valued at approximately $191,000. Institutional investors and hedge funds own 32.40% of the company’s stock.

About Target Hospitality

Target Hospitality Corporation provides modular accommodations and hospitality services for workers and other groups who need lodging near remote or specialized locations. Its services include lodging, dining, housekeeping, laundry, and recreation, with facilities designed to support extended stays. The company serves customers in industries such as energy and natural resources, as well as government clients. Its operations are primarily in the United States, including locations in the Permian Basin and other areas where traditional lodging may be limited.