Rite Aid Co. (RAD) Short Interest Update
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.
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.
ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2019/04/16/rite-aid-co-rad-short-interest-update.html.
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.
Featured Story: How accurate is the Rule of 72?
Receive News & Ratings for Rite Aid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rite Aid and related companies with MarketBeat.com's FREE daily email newsletter.