Target Hospitality (NASDAQ:TH) Shares Gap Up – Here’s Why

Target Hospitality Corp. (NASDAQ:TH) shares gapped up before the market opened on Wednesday . The stock had previously closed at $17.39, but opened at $18.35. Target Hospitality shares last traded at $18.0520, with a volume of 329,303 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TH shares. Weiss Ratings upgraded Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday. Northland Securities set a $24.00 target price on Target Hospitality in a report on Tuesday, August 11th. Morgan Stanley assumed coverage on Target Hospitality in a research report on Monday, August 17th. They issued an “overweight” rating and a $22.00 price target for the company. Oppenheimer lifted their price target on Target Hospitality from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Target Hospitality from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.40.

Target Hospitality Trading Down 0.2%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.65 and a current ratio of 0.65. The company has a 50 day simple moving average of $17.52 and a two-hundred day simple moving average of $14.43. The company has a market cap of $1.73 billion, a PE ratio of -45.95 and a beta of 1.49.

Target Hospitality (NASDAQ:TH) last issued its earnings results on Monday, August 10th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $85.45 million for the quarter, compared to the consensus estimate of $79.30 million. Target Hospitality had a negative return on equity of 9.80% and a negative net margin of 10.85%. Sell-side analysts forecast that Target Hospitality Corp. will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new stake in Target Hospitality in the 2nd quarter worth approximately $27,000. IFP Advisors Inc grew its holdings in shares of Target Hospitality by 88.0% during the 3rd quarter. IFP Advisors Inc now owns 4,002 shares of the company’s stock valued at $35,000 after acquiring an additional 1,873 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Target Hospitality by 121.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company’s stock valued at $38,000 after acquiring an additional 2,465 shares in the last quarter. Galaxy Digital Capital Management GP LLC purchased a new position in shares of Target Hospitality during the 1st quarter valued at $67,000. Finally, State of Wyoming acquired a new position in shares of Target Hospitality in the second quarter worth $191,000. Institutional investors and hedge funds own 32.40% of the company’s stock.

About Target Hospitality

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.