Target Hospitality (NASDAQ:TH) Shares Gap Up on Insider Buying Activity

Target Hospitality Corp. (NASDAQ:TH) shares gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $7.77, but opened at $8.11. Target Hospitality shares last traded at $8.23, with a volume of 58,918 shares.

Specifically, Director Stephen Robertson purchased 125,000 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was acquired at an average price of $7.94 per share, with a total value of $992,500.00. Following the completion of the acquisition, the director directly owned 445,000 shares in the company, valued at approximately $3,533,300. This trade represents a 39.06% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

Several equities research analysts have recently commented on TH shares. Stifel Nicolaus raised Target Hospitality from a “hold” rating to a “buy” rating and lifted their target price for the company from $7.50 to $11.00 in a research note on Tuesday, August 19th. Wall Street Zen upgraded Target Hospitality from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Target Hospitality in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Target Hospitality Stock Performance

The stock has a market cap of $820.79 million, a P/E ratio of -74.77 and a beta of 1.32. The stock has a fifty day simple moving average of $7.37 and a 200-day simple moving average of $7.70. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.01.

Target Hospitality (NASDAQ:TH) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. Target Hospitality had a negative net margin of 3.08% and a negative return on equity of 1.78%. The business had revenue of $99.36 million for the quarter, compared to the consensus estimate of $85.30 million. Equities analysts expect that Target Hospitality Corp. will post 0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AdvisorNet Financial Inc lifted its holdings in shares of Target Hospitality by 1,305.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 4,160 shares of the company’s stock valued at $30,000 after purchasing an additional 3,864 shares in the last quarter. IFP Advisors Inc raised its holdings in Target Hospitality by 88.0% during the 3rd quarter. IFP Advisors Inc now owns 4,002 shares of the company’s stock worth $35,000 after buying an additional 1,873 shares during the period. Russell Investments Group Ltd. boosted its position in Target Hospitality by 121.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company’s stock worth $38,000 after acquiring an additional 2,465 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Target Hospitality during the 3rd quarter worth approximately $44,000. Finally, Tripletail Wealth Management LLC bought a new position in shares of Target Hospitality during the 3rd quarter worth approximately $55,000. 32.40% of the stock is owned by institutional investors and hedge funds.

About Target Hospitality

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services – South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.