Short Interest in TaskUs, Inc. (NASDAQ:TASK) Declines By 17.5%

TaskUs, Inc. (NASDAQ:TASK) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 1,370,000 shares, a drop of 17.5% from the March 15th total of 1,660,000 shares. Based on an average daily volume of 381,200 shares, the days-to-cover ratio is presently 3.6 days. Currently, 7.8% of the company’s stock are short sold.

TaskUs Stock Down 1.2 %

Shares of TaskUs stock opened at $12.80 on Tuesday. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50. TaskUs has a twelve month low of $10.57 and a twelve month high of $19.60. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 3.92 and a beta of 2.17. The company’s 50 day moving average is $13.59 and its 200 day moving average is $14.57.

TaskUs (NASDAQ:TASK) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.12). TaskUs had a net margin of 5.58% and a return on equity of 17.73%. The firm had revenue of $274.24 million for the quarter, compared to the consensus estimate of $268.65 million. Research analysts anticipate that TaskUs will post 0.9 EPS for the current year.

Insider Buying and Selling at TaskUs

In other news, insider Jarrod Johnson sold 21,437 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.60, for a total transaction of $291,543.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 29.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of TaskUs by 71.5% in the 4th quarter. Blue Trust Inc. now owns 1,677 shares of the company’s stock worth $28,000 after purchasing an additional 699 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in TaskUs during the first quarter valued at approximately $63,000. BNP Paribas Financial Markets bought a new position in TaskUs in the fourth quarter worth approximately $80,000. KLP Kapitalforvaltning AS purchased a new position in shares of TaskUs during the 4th quarter worth $81,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of TaskUs during the 4th quarter valued at $83,000. 44.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Royal Bank of Canada increased their target price on TaskUs from $18.00 to $20.00 and gave the company a “sector perform” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, TaskUs has an average rating of “Hold” and a consensus target price of $17.86.

About TaskUs

TaskUs, Inc provides digital outsourcing services for companies in Philippines, the United States, India, and internationally. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through non-voice digital channels; and other solutions, including experience and customer care services for new product or market launches, and customer acquisition solutions.