Custom Truck One Source (NYSE:CTOS) Shares Gap Up – Time to Buy?

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) 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 changing hands.

Wall Street Analyst Weigh In

Separately, Oppenheimer cut their price objective on Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th.

Custom Truck One Source Trading Up 13.7 %

The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -28.81 and a beta of 0.79. The company has a quick ratio of 0.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.87. The firm’s 50 day moving average is $4.84 and its 200 day moving average is $4.50.

Insider Activity

In related news, major shareholder Pe One Source Holdings, Llc acquired 8,143,635 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $4.00 per share, for a total transaction of $32,574,540.00. Following the acquisition, the insider now owns 156,743,635 shares in the company, valued at approximately $626,974,540. This represents a 5.48 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. lifted its position in shares of Custom Truck One Source by 105.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,407,782 shares of the company’s stock valued at $35,632,000 after acquiring an additional 3,796,138 shares in the last quarter. Canvas Wealth Advisors LLC lifted its holdings in shares of Custom Truck One Source by 8.0% in the fourth quarter. Canvas Wealth Advisors LLC now owns 4,108,354 shares of the company’s stock valued at $19,761,000 after purchasing an additional 303,744 shares in the last quarter. Vanguard Group Inc. raised its position in Custom Truck One Source by 17.9% during the fourth quarter. Vanguard Group Inc. now owns 3,903,855 shares of the company’s stock valued at $18,778,000 after buying an additional 592,571 shares during the period. Boston Partners purchased a new stake in Custom Truck One Source in the 4th quarter worth about $18,268,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Custom Truck One Source by 7.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,659,904 shares of the company’s stock worth $17,604,000 after acquiring an additional 254,228 shares during the period. 90.07% of the stock is currently owned by institutional investors and hedge funds.

Custom Truck One Source Company Profile

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).