Custom Truck One Source (NYSE:CTOS) Shares Gap Up – What’s Next?

Custom Truck One Source, Inc. (NYSE:CTOS) shares gapped up before the market opened on Wednesday . The stock had previously closed at $4.02, but opened at $5.35. Custom Truck One Source shares last traded at $4.85, with a volume of 525,889 shares.

Analyst Upgrades and Downgrades

Separately, Oppenheimer boosted their target price on Custom Truck One Source from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday.

Custom Truck One Source Stock Performance

The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -31.03 and a beta of 0.67. The stock has a fifty day moving average price of $4.84 and a two-hundred day moving average price of $4.51. The company has a quick ratio of 0.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.87.

Insider Activity at Custom Truck One Source

In other Custom Truck One Source news, major shareholder Pe One Source Holdings, Llc bought 8,143,635 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average cost of $4.00 per share, for a total transaction of $32,574,540.00. Following the completion of the purchase, the insider now owns 156,743,635 shares of the company’s stock, valued at $626,974,540. This trade represents a 5.48 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Custom Truck One Source

A number of institutional investors have recently added to or reduced their stakes in CTOS. Boston Partners purchased a new stake in Custom Truck One Source during the fourth quarter valued at about $18,268,000. T. Rowe Price Investment Management Inc. boosted its position in shares of Custom Truck One Source by 105.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,407,782 shares of the company’s stock worth $35,632,000 after buying an additional 3,796,138 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Custom Truck One Source by 216,379.2% in the fourth quarter. Russell Investments Group Ltd. now owns 1,511,025 shares of the company’s stock worth $7,268,000 after buying an additional 1,510,327 shares during the period. Black Diamond Financial LLC boosted its position in shares of Custom Truck One Source by 906.8% in the third quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock worth $4,923,000 after buying an additional 1,285,265 shares during the period. Finally, Portolan Capital Management LLC boosted its position in shares of Custom Truck One Source by 152.8% in the fourth quarter. Portolan Capital Management LLC now owns 1,451,573 shares of the company’s stock worth $6,982,000 after buying an additional 877,273 shares during the period. Hedge funds and other institutional investors own 90.07% of the company’s stock.

About Custom Truck One Source

Custom Truck One Source, Inc provides specialty equipment rental and sale services to the electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in the United States and Canada. The company operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS).