Rocket Fuel Inc. (NASDAQ:FUEL) Shares Bought by Renaissance Technologies LLC
Renaissance Technologies LLC boosted its position in Rocket Fuel Inc. (NASDAQ:FUEL) by 12.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,353,300 shares of the technology company’s stock after buying an additional 375,300 shares during the period. Renaissance Technologies LLC owned approximately 7.25% of Rocket Fuel worth $17,974,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC increased its position in shares of Rocket Fuel by 33.8% in the first quarter. Acadian Asset Management LLC now owns 820,962 shares of the technology company’s stock valued at $4,402,000 after buying an additional 207,545 shares during the last quarter. Moloney Securities Asset Management LLC increased its position in shares of Rocket Fuel by 210.3% in the first quarter. Moloney Securities Asset Management LLC now owns 288,600 shares of the technology company’s stock valued at $1,547,000 after buying an additional 195,600 shares during the last quarter. TFS Capital LLC bought a new position in shares of Rocket Fuel during the first quarter valued at $786,000. Vanguard Group Inc. increased its position in shares of Rocket Fuel by 13.5% in the first quarter. Vanguard Group Inc. now owns 1,156,320 shares of the technology company’s stock valued at $6,198,000 after buying an additional 137,864 shares during the last quarter. Finally, Concourse Capital Management LLC bought a new position in shares of Rocket Fuel during the first quarter valued at $550,000. Institutional investors and hedge funds own 31.38% of the company’s stock.
Shares of Rocket Fuel Inc. (NASDAQ:FUEL) traded down 0.77% on Friday, reaching $2.59. The company’s stock had a trading volume of 748,808 shares. The stock’s market cap is $120.28 million. Rocket Fuel Inc. has a 12-month low of $1.70 and a 12-month high of $5.90. The firm has a 50 day moving average price of $2.73 and a 200-day moving average price of $3.32.
Rocket Fuel (NASDAQ:FUEL) last issued its quarterly earnings results on Tuesday, May 9th. The technology company reported ($0.32) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.10. The company had revenue of $95.20 million during the quarter, compared to the consensus estimate of $102.15 million. Rocket Fuel had a negative return on equity of 44.37% and a negative net margin of 15.09%. Rocket Fuel’s revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.28) EPS. Equities research analysts expect that Rocket Fuel Inc. will post ($0.92) EPS for the current year.
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Several equities analysts have recently weighed in on FUEL shares. Zacks Investment Research downgraded Rocket Fuel from a “buy” rating to a “hold” rating in a report on Tuesday, April 25th. Credit Suisse Group cut Rocket Fuel from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $4.50 to $4.75 in a research report on Wednesday, May 10th. Finally, ValuEngine raised Rocket Fuel from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $3.32.
About Rocket Fuel
Rocket Fuel Inc is a technology company, which offers a Programmatic Marketing Platform that is designed for helping marketers and their agencies to connect with consumers through digital media. The Company’s service offerings are organized around platforms, including Data Management Platform (DMP) and Demand Side Platform (DSP), which are used by customers themselves or integrating with other customer relationship management or marketing platforms, and together in various permutations as its Programmatic Marketing Platform.
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