Mammoth Energy Services Inc’s Quiet Period To Expire on November 23rd (NASDAQ:TUSK)
Mammoth Energy Services’ (NASDAQ:TUSK) quiet period will expire on Wednesday, November 23rd. Mammoth Energy Services had issued 7,750,000 shares in its initial public offering on October 14th. The total size of the offering was $116,250,000 based on an initial share price of $15.00. During Mammoth Energy Services’ quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
TUSK has been the subject of a number of recent analyst reports. Barclays PLC initiated coverage on Mammoth Energy Services in a research report on Thursday, November 10th. They set an “overweight” rating and a $18.00 price objective for the company. Piper Jaffray Cos. initiated coverage on Mammoth Energy Services in a research report on Tuesday, November 8th. They set an “overweight” rating and a $16.50 price objective for the company. Wunderlich initiated coverage on Mammoth Energy Services in a research report on Tuesday, November 8th. They set a “buy” rating and a $21.00 price objective for the company. Finally, Credit Suisse Group AG initiated coverage on Mammoth Energy Services in a research report on Tuesday, November 8th. They set an “outperform” rating and a $16.00 price objective for the company.
Mammoth Energy Services (NASDAQ:TUSK) opened at 14.65 on Wednesday. The stock’s market capitalization is $439.50 million. Mammoth Energy Services has a one year low of $11.91 and a one year high of $15.00. The company’s 50-day moving average price is $13.78 and its 200-day moving average price is $13.78.
In related news, CFO Mark E. Layton acquired 3,000 shares of Mammoth Energy Services stock in a transaction dated Wednesday, October 19th. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $45,000.00. Following the completion of the transaction, the chief financial officer now directly owns 3,000 shares of the company’s stock, valued at $45,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Energy Corp Gulfport sold 76,250 shares of the company’s stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $14.06, for a total value of $1,072,075.00. The disclosure for this sale can be found here.
About Mammoth Energy Services
Mammoth Energy Services, Inc is an integrated oilfield service company. The Company is engaged in the exploration and development of North American onshore unconventional oil and natural gas reserves. The Company’s segments include Contract Land and Directional Drilling Services; Completion and Production Services; Natural Sand Proppant Services, and Remote Accommodation Services.
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