EquipmentShare.com (NASDAQ:EQPT) Trading Down 6.7% – Here’s What Happened

EquipmentShare.com Inc (NASDAQ:EQPT) traded down 6.7% during trading on Friday . The company traded as low as $21.61 and last traded at $21.3210. 105,600 shares were traded during trading, a decline of 94% from the average session volume of 1,798,148 shares. The stock had previously closed at $22.86.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. UBS Group began coverage on shares of EquipmentShare.com in a research note on Tuesday, February 17th. They set a “neutral” rating and a $36.00 price objective for the company. Oppenheimer began coverage on EquipmentShare.com in a report on Tuesday, February 17th. They set an “outperform” rating and a $39.00 target price for the company. Citigroup boosted their target price on EquipmentShare.com from $22.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Wells Fargo & Company decreased their target price on EquipmentShare.com from $35.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, April 13th. Finally, KeyCorp began coverage on EquipmentShare.com in a report on Tuesday, February 17th. They set a “sector weight” rating for the company. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.25.

EquipmentShare.com Stock Down 7.1%

The firm has a fifty day moving average price of $21.55.

EquipmentShare.com (NASDAQ:EQPT) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. The company had revenue of $989.00 million during the quarter. EquipmentShare.com’s revenue was up 38.1% on a year-over-year basis. Analysts expect that EquipmentShare.com Inc will post 0.55 earnings per share for the current year.

Insider Buying and Selling

In related news, Director W Bryan Hill purchased 21,803 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of $22.89 per share, for a total transaction of $499,070.67. Following the acquisition, the director directly owned 35,794 shares in the company, valued at $819,324.66. The trade was a 155.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Naveen Bhatia bought 10,000 shares of EquipmentShare.com stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of $24.22 per share, with a total value of $242,200.00. Following the completion of the purchase, the director owned 312,000 shares in the company, valued at approximately $7,556,640. The trade was a 3.31% increase in their position. The disclosure for this purchase is available in the SEC filing.

EquipmentShare.com Company Profile

EquipmentShare.com Inc provides integrated, full-service construction solutions across equipment rental, sales and technology. EquipmentShare.com Inc is based in Columbia, Missouri.