Zacks Investment Research Downgrades Mammooth Energy (TUSK) to Sell
Zacks Investment Research cut shares of Mammooth Energy (NASDAQ:TUSK) from a hold rating to a sell rating in a research report report published on Wednesday.
According to Zacks, “Mammoth Energy Services, Inc. is an integrated oilfield service company. Its segment consists of Contract Land and Directional Drilling Services; Completion and Production Services; Natural Sand Proppant Services, and Remote Accommodation Services. Mammoth Energy Services, Inc. is based in OKLAHOMA CITY, United States. “
Several other analysts have also weighed in on the company. Credit Suisse Group restated an outperform rating and issued a $18.00 price objective (down previously from $25.00) on shares of Mammooth Energy in a report on Tuesday. They noted that the move was a valuation call. Piper Jaffray Companies restated a buy rating and issued a $19.00 price objective (down previously from $22.00) on shares of Mammooth Energy in a report on Wednesday, July 12th. Barclays PLC lowered Mammooth Energy from an overweight rating to an equal weight rating and cut their price objective for the company from $26.00 to $17.00 in a report on Wednesday, July 12th. R. F. Lafferty assumed coverage on Mammooth Energy in a report on Wednesday, June 14th. They issued a buy rating and a $37.00 price objective for the company. Finally, Instinet restated a buy rating and issued a $32.00 price objective on shares of Mammooth Energy in a report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. Mammooth Energy presently has an average rating of Buy and an average price target of $23.20.
Mammooth Energy (TUSK) traded down 1.04% during midday trading on Wednesday, reaching $11.44. The company’s stock had a trading volume of 105,673 shares. The company has a market capitalization of $509.10 million and a price-to-earnings ratio of 123.01. The company’s 50-day moving average price is $15.77 and its 200-day moving average price is $18.31. Mammooth Energy has a 1-year low of $11.39 and a 1-year high of $24.54.
Mammooth Energy (NASDAQ:TUSK) last announced its quarterly earnings data on Wednesday, August 2nd. The energy company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. The business had revenue of $98.26 million during the quarter, compared to analyst estimates of $92.14 million. Mammooth Energy had a negative return on equity of 3.04% and a negative net margin of 21.65%. The business’s revenue for the quarter was up 42.1% on a year-over-year basis.
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In related news, Director Arthur L. Smith bought 6,000 shares of Mammooth Energy stock in a transaction dated Friday, June 9th. The stock was acquired at an average cost of $16.91 per share, with a total value of $101,460.00. Following the completion of the acquisition, the director now directly owns 6,667 shares in the company, valued at approximately $112,738.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.03% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Thomson Horstmann & Bryant Inc. bought a new stake in shares of Mammooth Energy during the first quarter valued at approximately $5,331,000. American Century Companies Inc. increased its stake in shares of Mammooth Energy by 54.7% in the second quarter. American Century Companies Inc. now owns 627,081 shares of the energy company’s stock valued at $11,664,000 after buying an additional 221,656 shares in the last quarter. King Luther Capital Management Corp bought a new stake in shares of Mammooth Energy during the first quarter valued at approximately $2,916,000. Royce & Associates LP increased its stake in shares of Mammooth Energy by 1,551.3% in the second quarter. Royce & Associates LP now owns 128,800 shares of the energy company’s stock valued at $2,396,000 after buying an additional 121,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Mammooth Energy during the first quarter valued at approximately $1,896,000. 63.17% of the stock is owned by institutional investors and hedge funds.
About Mammooth Energy
Mammoth Energy Services, Inc is an integrated oilfield service company. The Company is engaged in the exploration and development of North American onshore unconventional oil and natural gas reserves. The Company’s segments include Contract Land and Directional Drilling Services; Completion and Production Services; Natural Sand Proppant Services, and Remote Accommodation Services.
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