Potential Price Increase for Custom Truck One Source Inc. (CTOS) After Recent Insider Activity


Custom Truck One Source Inc.’s recently made public that its Director Heinberg Marshall acquired Company’s shares for reported $0.13 million on May 15. In the deal valued at $6.53 per share,20,000 shares were bought. As a result of this transaction, Heinberg Marshall now holds 105,000 shares worth roughly $ 0.71 million.

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Then, Heinberg Marshall bought 311 shares, generating $2,016 in total proceeds. Upon buying the shares at $6.48, the Director now owns 205,304 shares.

Before that, Heinberg Marshall bought 19,689 shares. Custom Truck One Source Inc. shares valued at $126,319 were divested by the Director at a price of $6.42 per share. As a result of the transaction, Heinberg Marshall now holds 204,993 shares, worth roughly $1.39 million.

DA Davidson initiated its Custom Truck One Source Inc. [CTOS] rating to a Buy in a research note published on Friday, February 16, 2023; the price target was $12. PT values the company’s stock at a premium of 43.33 to its Friday closing price.

Price Performance Review of CTOS

On Friday, Custom Truck One Source Inc. [NYSE:CTOS] saw its stock jump 1.34% to $6.80. On the same session, the stock had its day’s lowest price of $6.74, but rose to a high of $6.83. Over the last five days, the stock has gained 6.25%. Custom Truck One Source Inc. shares have risen nearly 7.59% since the year began. Nevertheless, the stocks have risen 3.34% over the past one year. While a 52-week high of $7.64 was reached on 02/16/23, a 52-week low of $5.53 was recorded on 05/04/23. SMA at 50 days reached $6.70, while 200 days put it at $6.71. A total of 0.12 million shares were traded, compared to the trading of 0.29 million shares in the previous session.

Levels Of Support And Resistance For CTOS Stock

The 24-hour chart illustrates a support level at 6.75, which if violated will result in even more drops to 6.70. On the upside, there is a resistance level at 6.84. A further resistance level may holdings at 6.88. The Relative Strength Index (RSI) on the 14-day chart is 61.79, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.21, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 5.77%. Stochastics %K at 89.40% indicates the stock is a selling.

How much short interest is there in Custom Truck One Source Inc.?

A steep rise in short interest was recorded in Custom Truck One Source Inc. stocks on Aug 14, 2023, dropping by -0.25 million shares to a total of 2.19 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.44 million shares. There was a decline of -11.42%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.59% of the overall stock float, the days-to-cover ratio (short ratio) fell to 8.92.

Custom Truck One Source Inc. [CTOS] – Who Are The Largest Shareholders?

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 7,894,986 shares, or roughly 3.21% of the outstanding CTOS shares. In other words, the investor’s shares have fallen by -791,013 from its previous 13-F filing of 8685999.0. Additionally, Federated Global Investment Manag increased 0.02% of its stake after which the total value it holdings stand at $32,770,463, while BlackRock Fund Advisors reduced -0.94% of its stake to hold $23.17 million in the firm. Over the last quarter, Canvas Wealth Advisors LLC purchased 520,121 shares of Custom Truck One Source Inc., while The Vanguard Group, Inc. bought 6,114 shares. At present, Alyeska Investment Group LP is holding 3,031,268 shares valued at $20.98 million. Hawkeye Capital Management LLC owned 2,900,000 shares of the company at the time of its most recent 13F filing, worth $20.07 million.

According to FactSet, Custom Truck One Source Inc.’s share price will average $9.58 in the next year, based on opinions of analysts polled by the firm. This is up nearly 34.13 percent from its previous closing price of $6.71. Analysts expect Custom Truck One Source Inc. stock to reach the higher price of $12.00, while the lowest price estimate is $7.50. However, 6 analysts have rated CTOS stock as an Overweight in their predictions for 2023.


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