Mammoth Energy Services (NASDAQ:TUSK) Stock Price Passes Below 50-Day Moving Average – Here’s Why

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 $3.11 and traded as low as $3.04. Mammoth Energy Services shares last traded at $3.08, with a volume of 31,131 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Mammoth Energy Services from a “sell” rating to a “hold” rating in a research note on Friday, December 27th.

Mammoth Energy Services Stock Up 1.3 %

The business’s 50 day moving average is $3.11 and its 200 day moving average is $3.63. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.13 and a current ratio of 2.25. The stock has a market cap of $148.23 million, a price-to-earnings ratio of -0.75 and a beta of 1.61.

Mammoth Energy Services (NASDAQ:TUSK) last issued its quarterly earnings results on Friday, November 1st. The energy company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.49). The business had revenue of $40.02 million for the quarter. Mammoth Energy Services had a negative net margin of 105.49% and a negative return on equity of 53.85%. During the same quarter last year, the company earned ($0.02) EPS.

Insider Transactions at Mammoth Energy Services

In other Mammoth Energy Services news, Director Corey J. Booker sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $3.47, for a total value of $52,050.00. Following the transaction, the director now owns 125,488 shares in the company, valued at approximately $435,443.36. This represents a 10.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 33,659 shares of company stock valued at $115,657 over the last three months. 3.44% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mammoth Energy Services

Several institutional investors and hedge funds have recently modified their holdings of TUSK. Royce & Associates LP boosted its position in Mammoth Energy Services by 15.2% during the third quarter. Royce & Associates LP now owns 1,351,224 shares of the energy company’s stock valued at $5,527,000 after purchasing an additional 178,240 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Mammoth Energy Services by 14.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 806,280 shares of the energy company’s stock valued at $2,645,000 after buying an additional 99,093 shares in the last quarter. Geode Capital Management LLC increased its holdings in Mammoth Energy Services by 1.9% in the third quarter. Geode Capital Management LLC now owns 528,850 shares of the energy company’s stock worth $2,163,000 after buying an additional 9,852 shares during the last quarter. State Street Corp raised its position in Mammoth Energy Services by 1.4% during the third quarter. State Street Corp now owns 403,688 shares of the energy company’s stock valued at $1,651,000 after acquiring an additional 5,400 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Mammoth Energy Services by 76.3% in the fourth quarter. Empowered Funds LLC now owns 146,574 shares of the energy company’s stock valued at $440,000 after acquiring an additional 63,417 shares during the last quarter. 79.67% of the stock is currently owned by hedge funds and other institutional investors.

About Mammoth Energy Services

Mammoth Energy Services, Inc operates as an energy services company in the United States, Canada, and internationally. The company operates in four segments: Well Completion Services, Infrastructure Services, Natural Sand Proppant Services, and Drilling Services. The company offers pressure pumping and hydraulic fracturing, sand hauling, and water transfer services; and master services agreements.