U.S. Well Services (NASDAQ:USWS) Rating Lowered to Sell at Zacks Investment Research

U.S. Well Services (NASDAQ:USWS – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “U.S. Well Services Inc. is a special purpose acquisition company. It aims to acquire one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase and reorganization. “

Shares of NASDAQ:USWS traded up $0.01 during midday trading on Wednesday, hitting $0.60. 15,565 shares of the stock were exchanged, compared to its average volume of 1,522,347. The stock has a market capitalization of $45.95 million, a price-to-earnings ratio of -0.31 and a beta of 1.45. The business’s 50-day moving average price is $0.97 and its 200 day moving average price is $1.26. U.S. Well Services has a 12 month low of $0.50 and a 12 month high of $5.60.

U.S. Well Services (NASDAQ:USWS – Get Rating) last announced its earnings results on Monday, May 16th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.20). During the same quarter last year, the company posted ($1.23) earnings per share. Research analysts forecast that U.S. Well Services will post -0.61 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Morgan Stanley bought a new position in shares of U.S. Well Services during the 2nd quarter worth approximately $1,661,000. Bank of New York Mellon Corp acquired a new position in shares of U.S. Well Services during the first quarter worth approximately $214,000. Millennium Management LLC raised its position in shares of U.S. Well Services by 249.5% during the second quarter. Millennium Management LLC now owns 162,389 shares of the company’s stock worth $164,000 after purchasing an additional 115,926 shares during the period. Prelude Capital Management LLC acquired a new position in shares of U.S. Well Services during the first quarter worth approximately $165,000. Finally, Citadel Advisors LLC acquired a new position in shares of U.S. Well Services during the third quarter worth approximately $88,000.

About U.S. Well Services (Get Rating)

U.S. Well Services, Inc operates as an oilfield service company in the United States. It provides pressure pumping services; and hydraulic fracturing services to the oil and natural gas exploration, and production companies. The company was founded in 2012 and is headquartered in Houston, Texas.

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