Target Hospitality Corp. (TH) shares surged 28.77 percent, up $2.67 to $11.95 on Wednesday, after the company announced a multi-year lease and services agreement to construct and provide hospitality services for a large data center campus in Texas for a top five hyperscaler.
The stock is currently trading at $11.95, above its previous close of $9.28, after opening at $12.48 on the Nasdaq. Shares traded in a range of $11.89 to $13.25 during the session, with volume reaching 3.37 million shares, far above the average daily volume of 0.42 million.
The contract is expected to generate more than $550 million in committed minimum revenue over an initial term of about five years through the first quarter of 2031, with a potential variable revenue of $20 million to $40 million annually once occupancy reaches full scale.
Target Hospitality's 52-week range is $5.97 to $13.25
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.