Robinhood Markets, Inc. (NASDAQ:HOOD) Sees Significant Decrease in Short Interest

Robinhood Markets, Inc. (NASDAQ:HOODGet Free Report) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 29,040,000 shares, a decrease of 6.0% from the April 30th total of 30,880,000 shares. Based on an average daily trading volume, of 16,930,000 shares, the days-to-cover ratio is presently 1.7 days. Currently, 6.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several research firms have recently commented on HOOD. Citigroup downgraded Robinhood Markets from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $13.00 to $16.00 in a research note on Thursday, April 11th. Morgan Stanley lifted their price target on shares of Robinhood Markets from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Bank of America upgraded shares of Robinhood Markets from an “underperform” rating to a “buy” rating and upped their price target for the stock from $14.00 to $24.00 in a research report on Friday, May 17th. JPMorgan Chase & Co. raised their price objective on shares of Robinhood Markets from $10.00 to $12.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. Finally, Mizuho upped their target price on shares of Robinhood Markets from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $19.75.

Read Our Latest Analysis on Robinhood Markets

Insider Activity

In related news, Director Baiju Bhatt sold 116,669 shares of Robinhood Markets stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $22.02, for a total value of $2,569,051.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Robinhood Markets news, CFO Jason Warnick sold 5,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.59, for a total value of $97,950.00. Following the transaction, the chief financial officer now directly owns 1,002,407 shares in the company, valued at $19,637,153.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 116,669 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $22.02, for a total transaction of $2,569,051.38. The disclosure for this sale can be found here. Insiders have sold 1,271,851 shares of company stock valued at $23,234,544 in the last ninety days. 19.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Seven Eight Capital LP purchased a new stake in Robinhood Markets during the third quarter valued at approximately $131,000. Quantbot Technologies LP raised its holdings in Robinhood Markets by 583.1% during the 3rd quarter. Quantbot Technologies LP now owns 132,612 shares of the company’s stock valued at $1,301,000 after buying an additional 113,199 shares during the period. Gulf International Bank UK Ltd bought a new stake in Robinhood Markets in the fourth quarter worth $764,000. Deutsche Bank AG boosted its stake in Robinhood Markets by 674.6% during the third quarter. Deutsche Bank AG now owns 373,183 shares of the company’s stock worth $3,661,000 after buying an additional 325,007 shares during the period. Finally, Strs Ohio bought a new position in Robinhood Markets during the fourth quarter valued at $750,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Shares of HOOD opened at $21.28 on Tuesday. The stock has a market capitalization of $18.70 billion, a price-to-earnings ratio of 141.87 and a beta of 1.83. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $22.40. The business’s 50 day simple moving average is $18.61 and its 200-day simple moving average is $14.79.

Robinhood Markets (NASDAQ:HOODGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The company had revenue of $618.00 million for the quarter, compared to the consensus estimate of $552.74 million. During the same quarter in the prior year, the firm earned ($0.57) earnings per share. Robinhood Markets’s revenue was up 40.1% on a year-over-year basis. On average, sell-side analysts expect that Robinhood Markets will post 0.53 earnings per share for the current year.

Robinhood Markets Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Robinhood Markets Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Robinhood Markets and related companies with MarketBeat.com's FREE daily email newsletter.