Mammoth Energy Services, Inc. (NASDAQ:TUSK) Sees Significant Decline in Short Interest

Mammoth Energy Services, Inc. (NASDAQ:TUSK) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 132,483 shares, a drop of 83.4% from the June 15th total of 797,469 shares. Based on an average daily volume of 699,166 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.3% of the company’s shares are short sold.

Mammoth Energy Services Trading Down 2.8%

NASDAQ TUSK traded down $0.08 during mid-day trading on Friday, hitting $2.80. The company’s stock had a trading volume of 279,240 shares, compared to its average volume of 422,403. Mammoth Energy Services has a 52-week low of $1.72 and a 52-week high of $3.92. The stock’s fifty day simple moving average is $3.11 and its two-hundred day simple moving average is $2.58.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TUSK shares. Weiss Ratings upgraded shares of Mammoth Energy Services from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 21st. Wall Street Zen raised Mammoth Energy Services from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Insider Activity

In other Mammoth Energy Services news, insider Wexford Capital Lp acquired 4,019,574 shares of the stock in a transaction dated Wednesday, June 17th. The stock was acquired at an average price of $2.60 per share, with a total value of $10,450,892.40. Following the completion of the transaction, the insider directly owned 10,620,789 shares in the company, valued at approximately $27,614,051.40. This trade represents a 60.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders acquired a total of 4,029,574 shares of company stock worth $10,483,352 in the last 90 days. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mammoth Energy Services

A number of hedge funds have recently made changes to their positions in TUSK. Bank of America Corp DE boosted its position in Mammoth Energy Services by 45.8% during the 4th quarter. Bank of America Corp DE now owns 22,882 shares of the energy company’s stock worth $69,000 after purchasing an additional 7,192 shares during the period. Empowered Funds LLC boosted its position in shares of Mammoth Energy Services by 8.9% in the first quarter. Empowered Funds LLC now owns 159,685 shares of the energy company’s stock worth $326,000 after buying an additional 13,111 shares during the period. Geode Capital Management LLC boosted its position in shares of Mammoth Energy Services by 6.5% in the second quarter. Geode Capital Management LLC now owns 580,659 shares of the energy company’s stock worth $1,626,000 after buying an additional 35,495 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Mammoth Energy Services by 726.7% in the second quarter. JPMorgan Chase & Co. now owns 185,761 shares of the energy company’s stock worth $520,000 after buying an additional 163,291 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Mammoth Energy Services in the second quarter valued at about $103,000. Hedge funds and other institutional investors own 79.67% of the company’s stock.

Mammoth Energy Services Company Profile

Mammoth Energy Services, Inc, headquartered in Houston, Texas, is a diversified energy services company that primarily provides hydraulic fracturing and complementary well completion and production services to oil and natural gas exploration and production companies across North America. Its core offerings include fracturing, coiled tubing, cementing, wireline, nitrogen pumping, and pressure pumping equipment, supported by proprietary fluid blends and digital monitoring systems. In addition to conventional oilfield services, the company operates a dedicated solar division—Mammoth Solar—that delivers engineering, procurement and construction (EPC) services for utility-scale and commercial solar projects.

Mammoth’s fracturing operations are focused on major shale plays such as the Permian Basin, Eagle Ford, Bakken, Williston Basin, and Rockies regions.