The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Target Hospitality Corp. shares valued at $20,434 were purchased by Kelley John Travis on Mar 15. At $6.01 per share, Kelley John Travis acquired 3,400 shares. The insider’s holdings grew to 16,091 shares worth approximately $0.22 million following the completion of this transaction.
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Also, Schrenk Troy C. sold 21,000 shares, netting a total of over 126,000 in proceeds. Following the sale of shares at $6.00 each, the insider now holds 25,383 shares.
Before that, Archer James B. had added 35,676 shares to its account. In a trade valued at $199,786, the President and CEO bought Target Hospitality Corp. shares for $5.60 each. Upon closing the transaction, the insider’s holdings increased to 35,676 shares, worth approximately $16.37 million.
As published in a research note from Oppenheimer on June 23, 2021, Target Hospitality Corp. [TH] has been rated up from a Perform to an Outperform and the price target has been revised to $6. This represents a -123.17% premium over Thursday’s closing price. Analysts at Stifel upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late May. Earlier on April 01, 2020, Northland Capital downgraded its rating. Their new recommendation was “a Market perform” for TH stock which previously was a “an Outperform”.
Analyzing TH’s Price Performance
On Thursday, Target Hospitality Corp. [NASDAQ: TH] plunged -4.01% to $13.39. The stock’s lowest price that day was $13.18, but it reached a high of $14.30 in the same session. During the last five days, there has been a drop of approximately -2.26%. Over the course of the year, Target Hospitality Corp. shares have jumped approximately 276.12%. Shares of the company reached a 52-week high of $14.86 on 08/01/22 and a 52-week low of $2.72 on 02/24/22. A 50-day SMA is recorded $8.67, while a 200-day SMA reached $5.50. Nevertheless, trading volume fell to 1.16 million shares from 1.29 million shares the previous day.
Support And Resistance Levels for Target Hospitality Corp. (TH)
According to the 24-hour chart, there is a support level at 12.95, which, if violated, would cause prices to drop to 12.50. In the upper region, resistance lies at 14.07. The next price resistance is at 14.74. RSI (Relative Strength Index) is 66.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.66, which suggests the price will decrease in the coming days. Percent R is at 46.23%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Target Hospitality Corp. subject to short interest?
Stocks of Target Hospitality Corp. saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.34 million shares to 3.63 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.29 million shares. A jump of 64.46% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.12 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.12.
Which companies own the most shares of Target Hospitality Corp. (TH)?
According to Private Capital Management LLC filings, the company currently owns 5,396,906 shares, which is about 5.57% of the total TH shares outstanding. The investor’s shares have appreciated by 277,134 from its previous 13-F filing of 5119772.0 shares. With the completion of the sale transaction, Coastal Bridge Advisors LLC’s stake is now worth $16,226,061. BlackRock Fund Advisors reduced a -0.73% interest valued at $12.41 million while The Vanguard Group, Inc. purchased a 23,460 stake. A total of 1,364,026 shares of Target Hospitality Corp. were bought by Conversant Capital LLC during the quarter, and 0 were sold by Avidian Wealth Solutions LLC. In its current portfolio, Kent Lake Capital LLC holds 550,000 shares valued at $3.14 million.
In terms of Target Hospitality Corp. share price expectations, FactSet research, analysts set an average price target of $18.67 in the next 12 months, up nearly 43.37% from the previous closing price of $13.95. Analysts anticipate Target Hospitality Corp. stock to reach $20.00 by 2022, with the lowest price target being $16.00. In spite of this, 3 analysts ranked Target Hospitality Corp. stock as a Buy at the end of 2022. On March 10, 2020, Stifel assigned a price target of “a Hold” to the stock and downgraded coverage with a $4.