NJ State Employees Deferred Compensation Plan trimmed its holdings in shares of Mammoth Energy Services Inc (NASDAQ:TUSK) by 50.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,000 shares of the energy company’s stock after selling 24,000 shares during the period. NJ State Employees Deferred Compensation Plan owned about 0.05% of Mammoth Energy Services worth $60,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. raised its position in shares of Mammoth Energy Services by 70.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,905,370 shares of the energy company’s stock worth $13,112,000 after buying an additional 788,958 shares during the period. Boston Partners raised its position in Mammoth Energy Services by 106.6% in the second quarter. Boston Partners now owns 959,707 shares of the energy company’s stock valued at $6,603,000 after purchasing an additional 495,089 shares during the period. Janus Henderson Group PLC raised its position in Mammoth Energy Services by 31.5% in the second quarter. Janus Henderson Group PLC now owns 1,929,357 shares of the energy company’s stock valued at $13,274,000 after purchasing an additional 462,224 shares during the period. Nuveen Asset Management LLC purchased a new position in Mammoth Energy Services in the second quarter valued at about $2,026,000. Finally, Renaissance Technologies LLC raised its position in Mammoth Energy Services by 228.1% in the second quarter. Renaissance Technologies LLC now owns 269,400 shares of the energy company’s stock valued at $1,853,000 after purchasing an additional 187,300 shares during the period. 79.57% of the stock is owned by institutional investors and hedge funds.
NASDAQ:TUSK traded down $0.20 during mid-day trading on Friday, reaching $1.56. The stock had a trading volume of 938,900 shares, compared to its average volume of 357,572. The stock’s 50 day simple moving average is $2.13 and its two-hundred day simple moving average is $6.46. Mammoth Energy Services Inc has a 1-year low of $1.40 and a 1-year high of $26.76. The company has a market capitalization of $90.91 million, a price-to-earnings ratio of 0.28 and a beta of 1.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.82 and a quick ratio of 2.68.
Several research analysts have commented on TUSK shares. Capital One Financial lowered Mammoth Energy Services from an “overweight” rating to an “equal weight” rating and set a $5.00 price objective on the stock. in a research report on Friday, August 2nd. Credit Suisse Group cut their price objective on Mammoth Energy Services from $15.00 to $4.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Johnson Rice lowered Mammoth Energy Services from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Imperial Capital reaffirmed an “outperform” rating and set a $10.00 target price (down from $18.00) on shares of Mammoth Energy Services in a research report on Monday, August 5th. Finally, TheStreet raised Mammoth Energy Services from a “d” rating to a “c-” rating in a research report on Monday, October 14th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Mammoth Energy Services has an average rating of “Hold” and an average target price of $6.58.
About Mammoth Energy Services
Mammoth Energy Services, Inc operates as an oilfield service company. The company operates in three segments: Infrastructure Services, Pressure Pumping Services, and Natural Sand Proppant Services. The Infrastructure Services segment offers a range of services on electric transmission and distribution networks, and substation facilities, including the construction, upgrade, maintenance, and repair of high voltage transmission lines, substations, and lower voltage overhead and underground distribution systems; storm repair and restoration services; and commercial services comprising installation, maintenance, and repair of commercial wiring.
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