Mammoth Energy Services (NASDAQ:TUSK) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Shares of Mammoth Energy Services, Inc. (NASDAQ:TUSK) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $3.00 and traded as low as $2.96. Mammoth Energy Services shares last traded at $3.02, with a volume of 99,342 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Mammoth Energy Services from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Mammoth Energy Services currently has an average rating of “Sell”.

Mammoth Energy Services Stock Performance

The stock has a 50-day simple moving average of $3.00 and a two-hundred day simple moving average of $2.87. The firm has a market cap of $153.05 million, a PE ratio of 159.00 and a beta of 1.18.

Mammoth Energy Services (NASDAQ:TUSK) last announced its quarterly earnings results on Friday, August 7th. The energy company reported ($0.01) earnings per share (EPS) for the quarter. Mammoth Energy Services had a net margin of 0.98% and a negative return on equity of 8.10%. The company had revenue of $26.05 million for the quarter.

Institutional Investors Weigh In On Mammoth Energy Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in TUSK. Archer Investment Corp purchased a new stake in Mammoth Energy Services during the 2nd quarter valued at $27,000. AXQ Capital LP purchased a new position in shares of Mammoth Energy Services in the 2nd quarter worth $45,000. Ieq Capital LLC bought a new stake in shares of Mammoth Energy Services in the second quarter worth $79,000. Levin Capital Strategies L.P. purchased a new stake in Mammoth Energy Services during the first quarter valued at $61,000. Finally, Bank of America Corp DE lifted its holdings in Mammoth Energy Services by 15.9% in the first quarter. Bank of America Corp DE now owns 25,589 shares of the energy company’s stock valued at $63,000 after acquiring an additional 3,517 shares during the period. Hedge funds and other institutional investors own 79.67% of the company’s stock.

Mammoth Energy Services Company Profile

Mammoth Energy Services, Inc (NASDAQ:TUSK) is an energy infrastructure and services company headquartered in Oklahoma City, Oklahoma. The company provides services to electric utilities, oil and gas producers, and other energy-related customers in the United States and Canada.

Its infrastructure services include the construction, maintenance, repair, and restoration of electric transmission and distribution systems, substations, and related facilities. Mammoth also provides engineering, procurement, and construction services, as well as emergency response and storm-recovery work for utility infrastructure.

Historically, the company has also operated businesses supporting oil and gas exploration and production.