EquipmentShare.com (NASDAQ:EQPT) Trading Down 7.1% – Time to Sell?

EquipmentShare.com Inc (NASDAQ:EQPT) fell 7.1% during mid-day trading on Tuesday . The company traded as low as $22.20 and last traded at $22.17. 1,896,879 shares changed hands during trading, an increase of 6% from the average session volume of 1,788,284 shares. The stock had previously closed at $23.86.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EQPT shares. Truist Financial reiterated a “buy” rating and issued a $41.00 price objective (up from $34.00) on shares of EquipmentShare.com in a report on Friday, May 15th. Oppenheimer assumed coverage on EquipmentShare.com in a research note on Tuesday, February 17th. They set an “outperform” rating and a $39.00 target price for the company. Wells Fargo & Company reduced their target price on EquipmentShare.com from $35.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, April 13th. KeyCorp assumed coverage on EquipmentShare.com in a research note on Tuesday, February 17th. They issued a “sector weight” rating on the stock. Finally, Weiss Ratings downgraded EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $40.25.

EquipmentShare.com Stock Performance

The business’s fifty day moving average is $21.97.

EquipmentShare.com (NASDAQ:EQPT) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. The firm had revenue of $989.00 million for the quarter. The business’s revenue was up 38.1% compared to the same quarter last year. As a group, research analysts expect that EquipmentShare.com Inc will post 0.55 earnings per share for the current year.

Insider Activity

In other news, Director Naveen Bhatia bought 10,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was bought at an average cost of $24.22 per share, with a total value of $242,200.00. Following the transaction, the director directly owned 312,000 shares in the company, valued at $7,556,640. The trade was a 3.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director W Bryan Hill purchased 21,803 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were acquired at an average price of $22.89 per share, for a total transaction of $499,070.67. Following the completion of the purchase, the director directly owned 35,794 shares of the company’s stock, valued at approximately $819,324.66. This trade represents a 155.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

EquipmentShare.com Company Profile

EquipmentShare.com Inc provides integrated, full-service construction solutions across equipment rental, sales and technology. EquipmentShare.com Inc is based in Columbia, Missouri.