Rite Aid Co. (NYSE:RAD) saw a significant growth in short interest in the month of March. As of March 29th, there was short interest totalling 168,738,575 shares, a growth of 10.4% from the March 15th total of 152,862,134 shares. Currently, 15.9% of the shares of the stock are sold short. Based on an average trading volume of 12,886,472 shares, the days-to-cover ratio is presently 13.1 days.

A number of institutional investors have recently made changes to their positions in the business. Nwam LLC bought a new stake in shares of Rite Aid in the 4th quarter worth approximately $27,000. Wedbush Securities Inc. lifted its holdings in shares of Rite Aid by 111.9% in the 4th quarter. Wedbush Securities Inc. now owns 37,875 shares of the company’s stock worth $27,000 after acquiring an additional 20,000 shares during the last quarter. Allred Capital Management LLC bought a new stake in shares of Rite Aid in the 4th quarter worth approximately $31,000. Capstone Financial Advisors Inc. bought a new stake in shares of Rite Aid in the 3rd quarter worth approximately $32,000. Finally, Lombard Odier Asset Management USA Corp bought a new stake in shares of Rite Aid in the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

Shares of Rite Aid stock opened at $0.44 on Tuesday. Rite Aid has a 1 year low of $0.44 and a 1 year high of $2.12. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.90 and a current ratio of 1.68.

Shares of Rite Aid are set to reverse split before the market opens on Monday, April 22nd. The 1-20 reverse split was announced on Wednesday, April 10th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, April 19th.

Rite Aid (NYSE:RAD) last announced its earnings results on Thursday, April 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. Rite Aid had a negative net margin of 1.95% and a negative return on equity of 1.21%. The business had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same period in the previous year, the business posted ($0.01) earnings per share. Analysts forecast that Rite Aid will post 0.03 EPS for the current year.

A number of equities analysts have recently commented on RAD shares. Loop Capital cut their price objective on shares of Rite Aid from $1.35 to $1.00 and set a “hold” rating for the company in a research report on Thursday, December 20th. Zacks Investment Research lowered shares of Rite Aid from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $1.92.

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Rite Aid Company Profile

Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. It operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and a range of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.

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