Mammoth Energy Services (NASDAQ:TUSK) Stock Price Crosses Above 50 Day Moving Average – Here’s Why
by Sarita Garza · The Markets DailyMammoth Energy Services, Inc. (NASDAQ:TUSK – Get Free Report) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $2.99 and traded as high as $3.34. Mammoth Energy Services shares last traded at $3.32, with a volume of 111,338 shares changing hands.
Analysts Set New Price Targets
Several equities analysts have commented on the company. Weiss Ratings downgraded Mammoth Energy Services from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. Wall Street Zen upgraded shares of Mammoth Energy Services from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.
Check Out Our Latest Stock Analysis on TUSK
Mammoth Energy Services Price Performance
The stock has a 50-day moving average price of $2.99 and a 200-day moving average price of $2.73. The company has a market capitalization of $159.79 million, a P/E ratio of 166.00 and a beta of 1.15.
Insiders Place Their Bets
In other news, insider Wexford Capital Lp purchased 4,019,574 shares of the stock in a transaction on Wednesday, June 17th. The stock was purchased at an average price of $2.60 per share, for a total transaction of $10,450,892.40. Following the acquisition, the insider owned 10,620,789 shares in the company, valued at $27,614,051.40. This trade represents a 60.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have purchased 4,029,574 shares of company stock worth $10,483,352. Corporate insiders own 2.00% of the company’s stock.
Hedge Funds Weigh In On Mammoth Energy Services
A number of hedge funds have recently bought and sold shares of TUSK. Hsbc Holdings PLC acquired a new position in Mammoth Energy Services in the second quarter valued at $108,000. Algert Global LLC bought a new position in shares of Mammoth Energy Services in the 2nd quarter worth about $149,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Mammoth Energy Services in the 2nd quarter valued at about $93,000. Ieq Capital LLC acquired a new position in shares of Mammoth Energy Services in the 2nd quarter valued at about $79,000. Finally, BlackRock Inc. bought a new stake in shares of Mammoth Energy Services during the 2nd quarter valued at about $1,326,000. Institutional investors own 79.67% of the company’s stock.
Mammoth Energy Services Company Profile
Mammoth Energy Services, Inc, headquartered in Houston, Texas, is a diversified energy services company that primarily provides hydraulic fracturing and complementary well completion and production services to oil and natural gas exploration and production companies across North America. Its core offerings include fracturing, coiled tubing, cementing, wireline, nitrogen pumping, and pressure pumping equipment, supported by proprietary fluid blends and digital monitoring systems. In addition to conventional oilfield services, the company operates a dedicated solar division—Mammoth Solar—that delivers engineering, procurement and construction (EPC) services for utility-scale and commercial solar projects.
Mammoth’s fracturing operations are focused on major shale plays such as the Permian Basin, Eagle Ford, Bakken, Williston Basin, and Rockies regions.