TaskUs, Inc. (NASDAQ:TASK) Short Interest Up 266.1% in September

TaskUs, Inc. (NASDAQ:TASK) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 2,020,000 shares, a growth of 266.1% from the September 15th total of 551,800 shares. Based on an average daily trading volume, of 420,500 shares, the short-interest ratio is currently 4.8 days. Based on an average daily trading volume, of 420,500 shares, the short-interest ratio is currently 4.8 days.

Wall Street Analysts Forecast Growth

TASK has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of TaskUs in a research note on Wednesday, October 8th. Morgan Stanley lowered TaskUs from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $21.00 to $16.50 in a research note on Tuesday, September 9th. Zacks Research upgraded TaskUs from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 20th. Robert W. Baird raised their target price on TaskUs from $16.50 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Finally, Baird R W upgraded TaskUs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.25.

TaskUs Price Performance

NASDAQ:TASK opened at $13.24 on Friday. TaskUs has a 52 week low of $11.26 and a 52 week high of $19.60. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1.19 billion, a PE ratio of 19.19 and a beta of 2.15. The stock’s 50-day moving average price is $16.92 and its 200-day moving average price is $16.16.

Institutional Investors Weigh In On TaskUs

Large investors have recently bought and sold shares of the company. Inspire Investing LLC purchased a new stake in TaskUs during the 1st quarter worth approximately $345,000. AlphaQuest LLC increased its stake in TaskUs by 1,153.0% during the 1st quarter. AlphaQuest LLC now owns 23,845 shares of the company’s stock worth $325,000 after buying an additional 21,942 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new stake in TaskUs during the 1st quarter worth approximately $2,576,000. Ritholtz Wealth Management purchased a new stake in TaskUs during the 1st quarter worth approximately $236,000. Finally, Algert Global LLC purchased a new stake in TaskUs during the 1st quarter worth approximately $418,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.

TaskUs Company Profile

TaskUs, Inc provides digital outsourcing services for companies in Philippines, the United States, India, and internationally. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through non-voice digital channels; and other solutions, including experience and customer care services for new product or market launches, and customer acquisition solutions.