Mammoth Energy Services, Inc. (NASDAQ:TUSK) Sees Significant Decline in Short Interest

Mammoth Energy Services, Inc. (NASDAQ:TUSK) was the recipient of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 132,483 shares, a decline of 83.4% from the June 15th total of 797,469 shares. Based on an average trading volume of 699,166 shares, the short-interest ratio is presently 0.2 days. Currently, 0.3% of the shares of the company are short sold.

Mammoth Energy Services Price Performance

Shares of TUSK stock traded up $0.11 on Monday, hitting $2.91. 167,129 shares of the stock traded hands, compared to its average volume of 319,282. Mammoth Energy Services has a 52 week low of $1.72 and a 52 week high of $3.92. The firm has a 50 day simple moving average of $3.11 and a two-hundred day simple moving average of $2.59. The firm has a market cap of $140.17 million, a price-to-earnings ratio of 13.86 and a beta of 1.11.

Analysts Set New Price Targets

Several research firms have recently commented on TUSK. Weiss Ratings raised Mammoth Energy Services from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 21st. Wall Street Zen upgraded Mammoth Energy Services from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Insider Activity at Mammoth Energy Services

In related news, insider Wexford Capital Lp bought 4,019,574 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were bought at an average cost of $2.60 per share, for a total transaction of $10,450,892.40. Following the completion of the transaction, the insider owned 10,620,789 shares of the company’s stock, valued at approximately $27,614,051.40. This trade represents a 60.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders acquired 4,029,574 shares of company stock valued at $10,483,352. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Mammoth Energy Services

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in shares of Mammoth Energy Services in the third quarter valued at about $32,000. Sei Investments Co. purchased a new stake in shares of Mammoth Energy Services during the first quarter worth about $33,000. Franklin Resources Inc. bought a new stake in Mammoth Energy Services during the 3rd quarter valued at approximately $36,000. Sanctuary Advisors LLC bought a new stake in Mammoth Energy Services during the 1st quarter valued at approximately $41,000. Finally, Jane Street Group LLC raised its stake in Mammoth Energy Services by 48.3% during the 2nd quarter. Jane Street Group LLC now owns 17,268 shares of the energy company’s stock valued at $48,000 after purchasing an additional 5,621 shares during the period. 79.67% of the stock is owned by institutional investors.

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.