Rush Street Interactive (NYSE:RSI) PT Raised to $14.00

Rush Street Interactive (NYSE:RSI) had its target price increased by Craig Hallum from $11.00 to $14.00 in a report released on Thursday morning, Benzinga reports. Craig Hallum currently has a buy rating on the stock.

RSI has been the topic of a number of other research reports. Oppenheimer upped their price target on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an outperform rating in a research note on Thursday. Needham & Company LLC raised their price target on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company a buy rating in a research report on Thursday. Finally, Wells Fargo & Company boosted their price objective on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an overweight rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $11.17.

Rush Street Interactive Stock Performance

Shares of Rush Street Interactive stock traded down $0.73 during trading hours on Thursday, reaching $10.04. The company’s stock had a trading volume of 1,068,179 shares, compared to its average volume of 1,548,292. The company has a market capitalization of $2.26 billion, a P/E ratio of -58.06 and a beta of 1.79. The stock’s fifty day simple moving average is $9.38 and its two-hundred day simple moving average is $7.38. Rush Street Interactive has a one year low of $3.17 and a one year high of $11.59.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. The company had revenue of $220.38 million during the quarter, compared to analyst estimates of $201.37 million. Rush Street Interactive had a negative return on equity of 12.65% and a negative net margin of 0.84%. Rush Street Interactive’s revenue was up 33.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. As a group, research analysts forecast that Rush Street Interactive will post -0.05 earnings per share for the current year.

Institutional Trading of Rush Street Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. bought a new position in shares of Rush Street Interactive in the second quarter worth about $98,000. Allspring Global Investments Holdings LLC boosted its position in shares of Rush Street Interactive by 13,627.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after purchasing an additional 11,856 shares during the period. SG Americas Securities LLC increased its stake in shares of Rush Street Interactive by 33.2% in the fourth quarter. SG Americas Securities LLC now owns 15,108 shares of the company’s stock worth $68,000 after purchasing an additional 3,764 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Rush Street Interactive in the fourth quarter worth $90,000. Finally, North Star Investment Management Corp. raised its position in shares of Rush Street Interactive by 303.9% during the 1st quarter. North Star Investment Management Corp. now owns 20,600 shares of the company’s stock valued at $134,000 after purchasing an additional 15,500 shares during the period. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Mexico, and rest of Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines.