Robinhood Markets, Inc. (NASDAQ:HOOD) Short Interest Up 13.6% in June

Robinhood Markets, Inc. (NASDAQ:HOOD) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 34,071,600 shares, a growth of 13.6% from the May 31st total of 29,990,000 shares. Approximately 7.0% of the shares of the company are short sold. Based on an average daily trading volume, of 17,442,600 shares, the short-interest ratio is presently 2.0 days.

Robinhood Markets Stock Up 1.2 %

Shares of Robinhood Markets stock traded up $0.27 during trading on Wednesday, reaching $22.73. 4,285,286 shares of the stock were exchanged, compared to its average volume of 16,177,164. The stock’s fifty day moving average is $20.28 and its 200 day moving average is $16.64. The firm has a market cap of $19.98 billion, a price-to-earnings ratio of 151.07 and a beta of 1.84. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $24.28.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.13. The company had revenue of $618.00 million during the quarter, compared to analyst estimates of $552.74 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. Robinhood Markets’s revenue for the quarter was up 40.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.57) earnings per share. Equities analysts forecast that Robinhood Markets will post 0.56 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 153,180 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $16.63, for a total value of $2,547,383.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $18.67, for a total value of $4,667,500.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 153,180 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $16.63, for a total value of $2,547,383.40. The disclosure for this sale can be found here. Insiders have sold 1,481,733 shares of company stock worth $28,520,141 in the last 90 days. Insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Large investors have recently bought and sold shares of the company. Seven Eight Capital LP bought a new stake in Robinhood Markets during the 3rd quarter valued at approximately $131,000. Banque Cantonale Vaudoise boosted its position in Robinhood Markets by 21,404.0% during the 1st quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock valued at $1,948,000 after acquiring an additional 96,318 shares in the last quarter. Gulf International Bank UK Ltd bought a new stake in Robinhood Markets during the 4th quarter valued at approximately $764,000. Wellington Management Group LLP bought a new stake in Robinhood Markets during the 4th quarter valued at approximately $8,299,000. Finally, Strs Ohio bought a new stake in Robinhood Markets during the 4th quarter valued at approximately $750,000. 93.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HOOD shares. Bank of America raised Robinhood Markets from an “underperform” rating to a “buy” rating and increased their target price for the company from $14.00 to $24.00 in a research note on Friday, May 17th. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research note on Thursday, June 6th. KeyCorp increased their target price on Robinhood Markets from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. JMP Securities restated a “market outperform” rating and set a $30.00 price target on shares of Robinhood Markets in a research report on Friday, June 7th. Finally, The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.77.

Robinhood Markets Company Profile

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.