Rocket One Inc. Common Stock (NASDAQ:RKTO) Sees Large Growth in Short Interest

Rocket One Inc. Common Stock (NASDAQ:RKTO) was the target of a significant increase in short interest in May. As of May 29th, there was short interest totaling 6,435,486 shares, an increase of 701.2% from the May 14th total of 803,235 shares. Based on an average daily volume of 32,066,513 shares, the days-to-cover ratio is currently 0.2 days. Approximately 31.0% of the shares of the company are short sold.

Rocket One Inc. Common Stock Stock Up 1.6%

Rocket One Inc. Common Stock stock traded up $0.02 during mid-day trading on Wednesday, hitting $1.30. The company’s stock had a trading volume of 874,450 shares, compared to its average volume of 5,166,030. The stock has a market capitalization of $29.02 million, a P/E ratio of -1.62 and a beta of 0.89. Rocket One Inc. Common Stock has a twelve month low of $0.49 and a twelve month high of $2.45. The stock’s fifty day moving average price is $0.87 and its two-hundred day moving average price is $0.97.

Rocket One Inc. Common Stock (NASDAQ:RKTO) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03).

Hedge Funds Weigh In On Rocket One Inc. Common Stock

A number of hedge funds and other institutional investors have recently modified their holdings of RKTO. Lido Advisors LLC acquired a new stake in Rocket One Inc. Common Stock during the 3rd quarter worth about $32,000. Kestra Private Wealth Services LLC acquired a new position in shares of Rocket One Inc. Common Stock in the third quarter worth about $51,000. Geode Capital Management LLC increased its position in shares of Rocket One Inc. Common Stock by 8.0% in the second quarter. Geode Capital Management LLC now owns 122,575 shares of the company’s stock worth $143,000 after acquiring an additional 9,071 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Rocket One Inc. Common Stock in the third quarter worth approximately $184,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Rocket One Inc. Common Stock during the third quarter valued at approximately $232,000. Institutional investors and hedge funds own 7.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings cut shares of Rocket One Inc. Common Stock from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. D. Boral Capital reiterated a “buy” rating and set a $5.00 price objective on shares of Rocket One Inc. Common Stock in a research note on Wednesday, March 25th. Finally, Wall Street Zen upgraded Rocket One Inc. Common Stock from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.00.

Rocket One Inc. Common Stock Company Profile

Hoth Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the acquisition, licensing and development of novel therapies for dermatological, central nervous system and other debilitating conditions. The company’s strategy emphasizes in-licensing late preclinical or early clinical assets with promising pharmacological profiles and leveraging formulation science to optimize delivery. Core to its approach is the design of topical and localized administration platforms intended to enhance drug penetration, sustain release and reduce systemic exposure.

Hoth’s development pipeline encompasses multiple candidate programs addressing high-unmet-need areas such as atopic dermatitis, epidermolysis bullosa and oral mucositis.