Target Hospitality (NASDAQ:TH) Shares Gap Up – Time to Buy?

Target Hospitality Corp. (NASDAQ:TH) gapped up before the market opened on Wednesday . The stock had previously closed at $9.31, but opened at $9.85. Target Hospitality shares last traded at $9.83, with a volume of 110,688 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TH. Northland Capmk upgraded shares of Target Hospitality from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Northland Securities raised Target Hospitality from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $11.00 to $15.00 in a report on Wednesday. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Target Hospitality in a report on Thursday, November 14th.

Target Hospitality Stock Down 2.4 %

The business’s 50-day simple moving average is $9.33 and its two-hundred day simple moving average is $9.04. The firm has a market cap of $953.78 million, a price-to-earnings ratio of 11.08, a P/E/G ratio of 1.85 and a beta of 2.07.

Hedge Funds Weigh In On Target Hospitality

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC acquired a new stake in Target Hospitality during the 3rd quarter worth $87,000. SG Americas Securities LLC acquired a new position in Target Hospitality during the third quarter worth about $108,000. The Manufacturers Life Insurance Company grew its stake in Target Hospitality by 11.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,480 shares of the company’s stock valued at $126,000 after acquiring an additional 1,540 shares in the last quarter. Creative Planning acquired a new stake in Target Hospitality in the 3rd quarter valued at about $145,000. Finally, Victory Capital Management Inc. lifted its stake in Target Hospitality by 48.5% in the 3rd quarter. Victory Capital Management Inc. now owns 37,504 shares of the company’s stock worth $292,000 after purchasing an additional 12,242 shares in the last quarter. 32.40% of the stock is owned by hedge funds and other institutional investors.

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.