Mammooth Energy (TUSK) Announces Quarterly Earnings Results, Misses Expectations By $0.04 EPS
Mammooth Energy (NASDAQ:TUSK) announced its quarterly earnings results on Wednesday. The energy company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.04), Briefing.com reports. Mammooth Energy had a negative return on equity of 3.04% and a negative net margin of 21.65%. The company had revenue of $149.30 million for the quarter, compared to analyst estimates of $129.58 million. The company’s quarterly revenue was up 135.9% on a year-over-year basis.
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In other Mammooth Energy news, Director James D. Palm bought 6,000 shares of the company’s stock in a transaction on Friday, August 25th. The shares were bought at an average cost of $12.75 per share, with a total value of $76,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.03% of the stock is currently owned by corporate insiders.
An institutional investor recently raised its position in Mammooth Energy stock. State Street Corp grew its holdings in shares of Mammooth Energy (NASDAQ:TUSK) by 17.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 114,246 shares of the energy company’s stock after purchasing an additional 16,965 shares during the period. State Street Corp owned 0.26% of Mammooth Energy worth $2,127,000 as of its most recent SEC filing. Institutional investors own 73.42% of the company’s stock.
Several brokerages recently commented on TUSK. ValuEngine upgraded shares of Mammooth Energy from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Mammooth Energy from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Thursday, October 26th. Imperial Capital lifted their price target on shares of Mammooth Energy from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. Jefferies Group LLC began coverage on shares of Mammooth Energy in a research note on Thursday, October 5th. They set a “hold” rating and a $18.00 price target on the stock. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $18.00 price target (down from $25.00) on shares of Mammooth Energy in a research note on Tuesday, August 8th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $22.75.
Mammooth Energy Company Profile
Mammoth Energy Services, Inc is an integrated oilfield service company. The Company is engaged in the exploration and development of North American onshore unconventional oil and natural gas reserves. The Company’s segments include Contract Land and Directional Drilling Services; Completion and Production Services; Natural Sand Proppant Services, and Remote Accommodation Services.
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