Target Hospitality (NASDAQ:TH) Trading Down 3.9% – Here’s What Happened

Target Hospitality Corp. (NASDAQ:TH)’s stock price traded down 3.9% during mid-day trading on Friday . The stock traded as low as $9.92 and last traded at $9.96. 208,728 shares changed hands during trading, a decline of 62% from the average session volume of 555,703 shares. The stock had previously closed at $10.36.

Analysts Set New Price Targets

A number of brokerages have recently commented on TH. Northland Securities increased their price target on Target Hospitality from $9.00 to $11.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Oppenheimer reiterated a “market perform” rating on shares of Target Hospitality in a research report on Thursday, November 14th.

Target Hospitality Trading Down 3.7 %

The stock has a market capitalization of $987.42 million, a price-to-earnings ratio of 11.47, a PEG ratio of 1.90 and a beta of 2.07. The company’s 50-day simple moving average is $9.24 and its 200-day simple moving average is $9.02.

Institutional Investors Weigh In On Target Hospitality

Institutional investors and hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC raised its stake in Target Hospitality by 10.1% during the third quarter. HighTower Advisors LLC now owns 1,466,356 shares of the company’s stock worth $11,408,000 after buying an additional 134,966 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Target Hospitality by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 855,069 shares of the company’s stock worth $6,654,000 after acquiring an additional 72,579 shares in the last quarter. State Street Corp lifted its stake in shares of Target Hospitality by 1.7% in the 3rd quarter. State Street Corp now owns 725,905 shares of the company’s stock valued at $5,648,000 after purchasing an additional 12,087 shares during the period. LB Partners LLC boosted its position in shares of Target Hospitality by 300.3% during the 3rd quarter. LB Partners LLC now owns 536,428 shares of the company’s stock valued at $4,173,000 after purchasing an additional 402,428 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Target Hospitality by 28.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 271,590 shares of the company’s stock worth $2,113,000 after purchasing an additional 60,569 shares during the period. Institutional investors and hedge funds own 32.40% of the company’s stock.

Target Hospitality Company Profile

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.