Custom Truck One Source (NYSE:CTOS) Trading Down 7.8% – Should You Sell?

Custom Truck One Source, Inc. (NYSE:CTOS) was down 7.8% during mid-day trading on Wednesday . The stock traded as low as $4.80 and last traded at $4.81. Approximately 246,076 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 750,470 shares. The stock had previously closed at $5.21.

Wall Street Analyst Weigh In

Separately, Oppenheimer raised their price objective on shares of Custom Truck One Source from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th.

Custom Truck One Source Price Performance

The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -29.84 and a beta of 0.67. The company has a current ratio of 1.28, a quick ratio of 0.19 and a debt-to-equity ratio of 1.87. The company’s 50 day simple moving average is $4.88 and its 200-day simple moving average is $4.57.

Insiders Place Their Bets

In other Custom Truck One Source news, major shareholder Pe One Source Holdings, Llc purchased 8,143,635 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $4.00 per share, with a total value of $32,574,540.00. Following the purchase, the insider now owns 156,743,635 shares in the company, valued at approximately $626,974,540. This represents a 5.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Custom Truck One Source

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in Custom Truck One Source during the fourth quarter worth approximately $29,000. R Squared Ltd acquired a new stake in shares of Custom Truck One Source during the 4th quarter worth $39,000. Intech Investment Management LLC purchased a new position in shares of Custom Truck One Source in the 3rd quarter worth $56,000. KLP Kapitalforvaltning AS purchased a new stake in Custom Truck One Source during the fourth quarter valued at about $56,000. Finally, Two Sigma Investments LP acquired a new stake in Custom Truck One Source during the fourth quarter worth about $63,000. 90.07% of the stock is owned by institutional investors and hedge funds.

About Custom Truck One Source

Custom Truck One Source, Inc provides specialty equipment rental and sale services to the electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in the United States and Canada. The company operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS).