07:10 AM EDT, 06/11/2024 (MT Newswires) -- Target Hospitality ( TH ) said late Monday that it has received a 60-day notice that the US government plans to terminate the existing South Texas Family Residential Center services agreement with Target's migrant programming partner, starting Aug. 9.

Target Hospitality ( TH ) provides modular assets to the partner through a lease and services agreement.

Target Hospitality ( TH ) said it will retain ownership of these modular assets, allowing the company to continue using these modular solutions "to support customer demand across its existing operating segments."

Target Hospitality ( TH ) shares were down 28% in recent Tuesday premarket activity.

Price: 7.59, Change: -2.91, Percent Change: -27.71