TaskUs, Inc. (NASDAQ:TASK) Short Interest Update

TaskUs, Inc. (NASDAQ:TASK) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 1,240,000 shares, a decrease of 21.0% from the October 31st total of 1,570,000 shares. Currently, 7.2% of the shares of the company are sold short. Based on an average daily volume of 233,400 shares, the days-to-cover ratio is currently 5.3 days.

Hedge Funds Weigh In On TaskUs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP boosted its stake in TaskUs by 8.9% during the 3rd quarter. Royce & Associates LP now owns 669,579 shares of the company’s stock valued at $8,651,000 after purchasing an additional 54,770 shares in the last quarter. Dalton Investments Inc. boosted its stake in TaskUs by 2.5% during the 2nd quarter. Dalton Investments Inc. now owns 636,458 shares of the company’s stock valued at $8,471,000 after purchasing an additional 15,300 shares in the last quarter. Renaissance Technologies LLC boosted its stake in TaskUs by 12.8% during the 2nd quarter. Renaissance Technologies LLC now owns 440,523 shares of the company’s stock valued at $5,863,000 after purchasing an additional 50,000 shares in the last quarter. Seldon Capital LP bought a new position in TaskUs during the 3rd quarter valued at $5,393,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in TaskUs by 12.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 396,274 shares of the company’s stock valued at $5,120,000 after purchasing an additional 42,750 shares in the last quarter. 44.64% of the stock is owned by institutional investors.

TaskUs Price Performance

NASDAQ TASK traded down $0.33 on Friday, reaching $14.66. 100,903 shares of the stock traded hands, compared to its average volume of 222,835. The firm’s fifty day simple moving average is $13.28 and its 200 day simple moving average is $13.88. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.50. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 3.88 and a beta of 2.28. TaskUs has a 12 month low of $10.56 and a 12 month high of $19.60.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TASK shares. Citigroup increased their price target on TaskUs from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada raised their target price on TaskUs from $17.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on TaskUs from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Finally, Robert W. Baird raised their target price on TaskUs from $16.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $16.43.

TaskUs Company Profile

TaskUs, Inc provides digital outsourcing services for companies in Philippines, the United States, India, and internationally. It offers digital customer experience that consists of omni-channel customer care services primarily delivered through non-voice digital channels; and other solutions, including experience and customer care services for new product or market launches, and customer acquisition solutions.