Rocket One Inc. Common Stock (NASDAQ:RKTO) Sees Significant Drop in Short Interest

Rocket One Inc. Common Stock (NASDAQ:RKTO) was the recipient of a significant decrease in short interest in June. As of June 30th, there was short interest totaling 2,994,254 shares, a decrease of 36.3% from the June 15th total of 4,703,508 shares. Approximately 14.4% of the company’s stock are sold short. Based on an average daily trading volume, of 1,772,196 shares, the short-interest ratio is currently 1.7 days.

Rocket One Inc. Common Stock Price Performance

Rocket One Inc. Common Stock stock traded down $0.03 during midday trading on Friday, reaching $0.81. 585,474 shares of the company traded hands, compared to its average volume of 8,606,052. The firm has a market capitalization of $18.11 million, a price-to-earnings ratio of -1.01 and a beta of 0.93. The business has a 50 day moving average of $1.04 and a two-hundred day moving average of $0.95. Rocket One Inc. Common Stock has a 12 month low of $0.49 and a 12 month high of $2.45.

Rocket One Inc. Common Stock (NASDAQ:RKTO) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03).

Analyst Upgrades and Downgrades

RKTO has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Rocket One Inc. Common Stock from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Wall Street Zen cut Rocket One Inc. Common Stock from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, D. Boral Capital reiterated a “buy” rating and set a $5.00 target price on shares of Rocket One Inc. Common Stock in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.00.

Institutional Investors Weigh In On Rocket One Inc. Common Stock

A number of large investors have recently made changes to their positions in RKTO. Lido Advisors LLC bought a new position in shares of Rocket One Inc. Common Stock in the 3rd quarter worth approximately $32,000. Kestra Private Wealth Services LLC bought a new stake in Rocket One Inc. Common Stock during the third quarter valued at approximately $51,000. Geode Capital Management LLC grew its position in Rocket One Inc. Common Stock by 8.0% during the second quarter. Geode Capital Management LLC now owns 122,575 shares of the company’s stock valued at $143,000 after buying an additional 9,071 shares during the period. Virtu Financial LLC purchased a new stake in Rocket One Inc. Common Stock during the third quarter valued at approximately $184,000. Finally, Citadel Advisors LLC purchased a new stake in Rocket One Inc. Common Stock during the third quarter valued at approximately $232,000. 7.08% of the stock is currently owned by institutional investors.

About Rocket One Inc. Common Stock

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.