Short Interest in Rocket One Inc. Common Stock (NASDAQ:RKTO) Decreases By 36.3%

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

Rocket One Inc. Common Stock Stock Performance

NASDAQ:RKTO opened at $0.81 on Friday. Rocket One Inc. Common Stock has a 52-week low of $0.49 and a 52-week high of $2.45. The stock has a fifty day moving average of $1.04 and a 200 day moving average of $0.95. The firm has a market capitalization of $18.11 million, a price-to-earnings ratio of -1.01 and a beta of 0.93.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. DRW Securities LLC bought a new stake in Rocket One Inc. Common Stock during the fourth quarter valued at approximately $257,000. Citadel Advisors LLC purchased a new position in Rocket One Inc. Common Stock in the 3rd quarter worth approximately $232,000. Geode Capital Management LLC increased its holdings in shares of Rocket One Inc. Common Stock by 18.0% in the 4th quarter. Geode Capital Management LLC now owns 181,112 shares of the company’s stock worth $179,000 after buying an additional 27,577 shares during the last quarter. Kestra Private Wealth Services LLC bought a new position in shares of Rocket One Inc. Common Stock in the 3rd quarter worth $51,000. Finally, Virtu Financial LLC bought a new position in shares of Rocket One Inc. Common Stock in the 3rd quarter worth $184,000. Hedge funds and other institutional investors own 7.08% of the company’s stock.

Analysts Set New Price Targets

RKTO has been the topic of a number of recent analyst reports. Weiss Ratings raised 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 shares of Rocket One Inc. Common Stock from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $5.00 price objective on shares of Rocket One Inc. Common Stock in a research note on Wednesday, March 25th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rocket One Inc. Common Stock has an average rating of “Hold” and an average price target of $5.00.

Rocket One Inc. Common Stock Company Profile

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.