Mammoth Energy Services Downgraded to 'Sell' by StockNews.com

Mammoth Energy Services (NASDAQ:TUSK) received a downgrade from equities researchers at StockNews.com, which has shifted its rating from "hold" to "sell". This decision was announced in a research report distributed to clients and investors on Thursday.

Mammoth Energy Services Stock Performance

In trading on Thursday, TUSK's stock experienced a minor decline of $0.01, bringing its price down to $2.82. The trading volume for the day reached 79,573 shares, while the average volume typically rests around 108,806 shares. Currently, the company holds a debt-to-equity ratio of 0.18, a current ratio of 2.25, and a quick ratio of 2.13. Over the past 50 days, the stock's average price has been $3.70, and over the past 200 days, it was $3.68. The stock has a 52-week low of $2.50 and a high of $4.94, with a market capitalization of $135.72 million. Additionally, its price-to-earnings ratio is -0.68, while the stock has a beta of 1.62, indicating a relatively high level of volatility.

Mammoth Energy Services released its latest earnings results on Friday, November 1. During the reported quarter, the energy company reported a loss of ($0.50) earnings per share (EPS), which was significantly below analysts' expectations of a loss of only ($0.01) per share, resulting in a shortfall of ($0.49). The company also recorded a steep negative net margin of 105.49% along with a negative return on equity of 53.85%. Revenue for the quarter totaled $40.02 million. Comparatively, during the same quarter last year, the company reported a loss of ($0.02) EPS.

Insider Transactions at Mammoth Energy Services

In other developments, the company’s Director, Corey J. Booker, sold off 10,000 shares of Mammoth Energy Services stock on Friday, November 22, at an average price of $3.43, accumulating a total of $34,300 from the sale. Post-transaction, Director Booker holds 140,488 shares, valued at approximately $481,873.84, reflecting a 6.65% reduction in their position. The details of this transaction were disclosed in a legal filing with the SEC, which is available for public viewing. Over the past three months, insiders have collectively sold 33,659 shares of the company's stock, totaling $115,657. Currently, insiders own about 3.44% of the total stock.

Institutional Inflows and Outflows

Recent activity from hedge funds has seen significant movement in their holdings of Mammoth Energy Services stock. FMR LLC increased its stake by 32.7% in the third quarter, now owning 10,967 shares valued at approximately $45,000 after acquiring an additional 2,705 shares. Similarly, Empowered Funds LLC raised its holdings by 5.3%, bringing their total to 83,157 shares valued at $340,000. State Street Corp also boosted its holdings by 1.4% during the third quarter, now owning 403,688 shares worth $1,651,000. Geode Capital Management LLC increased its stake by 1.9%, owning 528,850 shares valued at $2,163,000 after acquiring an extra 9,852 shares. Lastly, SG Americas Securities LLC acquired a new position in the company, valued at roughly $42,000. Overall, institutional investors currently hold approximately 79.67% of Mammoth Energy Services stock.

About Mammoth Energy Services

Mammoth Energy Services, Inc. operates as an energy services provider in the United States, Canada, and internationally. The company's operations are segmented into four key areas: Well Completion Services, Infrastructure Services, Natural Sand Proppant Services, and Drilling Services. Their offerings include pressure pumping, hydraulic fracturing, sand hauling, and water transfer services, in addition to master service agreements.

Watch for Future Developments

Given the recent downgrade, investors might want to observe how Mammoth Energy Services adjusts to current market conditions and their strategy moving forward. Market fluctuations can affect stock performance and investor sentiment.

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