Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 26,650,000 shares, a growth of 12.1% from the September 15th total of 23,780,000 shares. Based on an average trading volume of 14,480,000 shares, the days-to-cover ratio is currently 1.8 days. Approximately 4.6% of the company’s stock are short sold.
Robinhood Markets Trading Up 0.5 %
Shares of HOOD traded up $0.13 during trading hours on Wednesday, reaching $26.93. 11,292,073 shares of the stock traded hands, compared to its average volume of 15,532,028. The company has a market cap of $23.67 billion, a P/E ratio of 179.53 and a beta of 1.84. The company’s 50-day moving average price is $21.68 and its two-hundred day moving average price is $20.74. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $27.33.
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. The business had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The business’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. On average, research analysts forecast that Robinhood Markets will post 0.76 EPS for the current year.
Insider Activity
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC purchased a new stake in Robinhood Markets during the 3rd quarter valued at approximately $33,000. ORG Partners LLC purchased a new stake in Robinhood Markets in the 2nd quarter worth $33,000. Allspring Global Investments Holdings LLC purchased a new stake in Robinhood Markets in the 1st quarter worth $34,000. International Assets Investment Management LLC purchased a new position in shares of Robinhood Markets during the second quarter valued at about $40,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the second quarter worth about $45,000. 93.27% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on HOOD shares. Morgan Stanley raised their price target on shares of Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Barclays raised their target price on shares of Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Wolfe Research raised Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a report on Wednesday, June 26th. Finally, The Goldman Sachs Group lifted their price objective on Robinhood Markets from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.10.
Get Our Latest Analysis on HOOD
Robinhood Markets Company Profile
Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.
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