Target Hospitality Corp. (NASDAQ:TH) Short Interest Up 23.9% in May

Target Hospitality Corp. (NASDAQ:TH) was the recipient of a large growth in short interest in May. As of May 31st, there was short interest totalling 2,330,000 shares, a growth of 23.9% from the May 15th total of 1,880,000 shares. Based on an average daily trading volume, of 511,600 shares, the short-interest ratio is presently 4.6 days. Currently, 7.3% of the shares of the stock are sold short.

Institutional Trading of Target Hospitality

A number of hedge funds and other institutional investors have recently made changes to their positions in TH. Conversant Capital LLC increased its holdings in Target Hospitality by 2.1% during the fourth quarter. Conversant Capital LLC now owns 4,889,046 shares of the company’s stock worth $47,253,000 after buying an additional 100,000 shares during the last quarter. Vanguard Group Inc. increased its holdings in Target Hospitality by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 1,965,362 shares of the company’s stock worth $18,995,000 after buying an additional 79,561 shares during the last quarter. Appian Way Asset Management LP acquired a new position in Target Hospitality during the first quarter worth $11,872,000. Philadelphia Financial Management of San Francisco LLC acquired a new position in Target Hospitality during the first quarter worth $11,441,000. Finally, Empyrean Capital Partners LP acquired a new position in Target Hospitality during the fourth quarter worth $9,781,000. 32.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TH. Stifel Nicolaus increased their target price on shares of Target Hospitality from $5.00 to $7.50 and gave the company a “hold” rating in a research report on Monday, March 31st. Wall Street Zen upgraded shares of Target Hospitality from a “sell” rating to a “hold” rating in a research report on Saturday, June 14th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.25.

Target Hospitality Trading Up 1.4%

Shares of TH stock opened at $7.08 on Thursday. Target Hospitality has a 52-week low of $4.00 and a 52-week high of $11.10. The stock has a market cap of $703.47 million, a price-to-earnings ratio of 16.47 and a beta of 1.85. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a fifty day moving average of $6.96 and a 200-day moving average of $7.77.

Target Hospitality (NASDAQ:TH) last announced its earnings results on Monday, May 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). Target Hospitality had a return on equity of 11.34% and a net margin of 12.71%. The firm had revenue of $69.90 million for the quarter, compared to analyst estimates of $65.37 million. During the same quarter last year, the business earned $0.20 EPS. The company’s revenue for the quarter was down 34.5% compared to the same quarter last year. On average, equities research analysts forecast that Target Hospitality will post 0.65 earnings per share for the current fiscal year.

About Target Hospitality

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services – South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.