EquipmentShare.com (NASDAQ:EQPT) Shares Down 7.1% – What’s Next?

EquipmentShare.com Inc (NASDAQ:EQPT) shares dropped 7.1% during mid-day trading on Tuesday . The stock traded as low as $22.20 and last traded at $22.17. Approximately 1,896,879 shares changed hands during trading, an increase of 6% from the average daily volume of 1,788,284 shares. The stock had previously closed at $23.86.

Wall Street Analyst Weigh In

EQPT has been the topic of several recent research reports. Wells Fargo & Company decreased their price objective on EquipmentShare.com from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, April 13th. KeyCorp started coverage on EquipmentShare.com in a report on Tuesday, February 17th. They set a “sector weight” rating on the stock. Citigroup increased their price target on EquipmentShare.com from $22.00 to $26.00 and gave the company a “neutral” rating in a report on Friday. Wall Street Zen upgraded EquipmentShare.com from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Oppenheimer started coverage on EquipmentShare.com in a report on Tuesday, February 17th. They set an “outperform” rating and a $39.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $40.25.

EquipmentShare.com Price Performance

The stock has a 50 day simple moving average of $22.38.

EquipmentShare.com (NASDAQ:EQPT) last released its 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 business had revenue of $989.00 million during the quarter. The business’s revenue for the quarter was up 38.1% on a year-over-year basis. Analysts expect that EquipmentShare.com Inc will post 0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other EquipmentShare.com news, Director Naveen Bhatia bought 10,000 shares of EquipmentShare.com stock in a transaction on Friday, May 15th. The shares were acquired at an average price of $24.22 per share, for a total transaction of $242,200.00. Following the completion of the purchase, the director directly owned 312,000 shares in the company, valued at approximately $7,556,640. This trade represents a 3.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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.