Rite Aid (RAD) Short Interest Update

Rite Aid (NYSE:RAD) was the target of a large growth in short interest during the month of March. As of March 29th, there was short interest totalling 163,994,755 shares, a growth of 11.9% from the March 15th total of 146,518,471 shares. Approximately 15.5% of the company’s shares are short sold. Based on an average trading volume of 23,947,474 shares, the days-to-cover ratio is currently 6.8 days.

RAD has been the subject of a number of recent analyst reports. Vetr raised Rite Aid from a “hold” rating to a “strong-buy” rating and set a $2.54 price objective for the company in a research report on Tuesday, January 16th. Zacks Investment Research raised Rite Aid from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Finally, Evercore ISI initiated coverage on Rite Aid in a research report on Thursday, January 4th. They set an “underperform” rating and a $1.50 price objective for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $2.33.

How to Become a New Pot Stock Millionaire

Institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC purchased a new position in Rite Aid during the 4th quarter valued at about $101,000. Brave Asset Management Inc. boosted its holdings in Rite Aid by 52.4% during the 4th quarter. Brave Asset Management Inc. now owns 80,000 shares of the company’s stock valued at $158,000 after acquiring an additional 27,500 shares during the period. Parametrica Management Ltd purchased a new position in Rite Aid during the 4th quarter valued at about $182,000. State of Alaska Department of Revenue purchased a new position in Rite Aid during the 4th quarter valued at about $195,000. Finally, Xact Kapitalforvaltning AB purchased a new position in Rite Aid during the 4th quarter valued at about $195,000. Institutional investors own 47.46% of the company’s stock.

Shares of NYSE:RAD opened at $1.68 on Monday. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.37 and a quick ratio of 0.59. The stock has a market cap of $1,740.26, a P/E ratio of -84.00 and a beta of 1.80. Rite Aid has a 12-month low of $1.38 and a 12-month high of $4.61.

Rite Aid (NYSE:RAD) last issued its quarterly earnings data on Thursday, April 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.75 billion. Rite Aid had a negative return on equity of 8.25% and a net margin of 3.60%. The firm’s revenue was down 8.6% compared to the same quarter last year. sell-side analysts forecast that Rite Aid will post 0.04 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This news story was first posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this news story can be accessed at https://www.chaffeybreeze.com/2018/04/16/rite-aid-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. The company operates through Retail Pharmacy and Pharmacy Services segments. The Retail Pharmacy segment sells prescription drugs; and a range of other merchandise, such as over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other everyday and convenience products.

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.

Leave a Reply