Rocket One Inc. Common Stock (NASDAQ:RKTO) Short Interest Up 701.2% in May

Rocket One Inc. Common Stock (NASDAQ:RKTO) was the recipient of a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 6,435,486 shares, an increase of 701.2% from the May 14th total of 803,235 shares. Approximately 31.0% of the shares of the company are sold short. Based on an average daily volume of 32,066,513 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On Rocket One Inc. Common Stock

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Lido Advisors LLC grew its holdings in shares of Rocket One Inc. Common Stock by 100.0% during the first quarter. Lido Advisors LLC now owns 39,000 shares of the company’s stock worth $33,000 after buying an additional 19,500 shares in the last quarter. DRW Securities LLC purchased a new stake in shares of Rocket One Inc. Common Stock during the fourth quarter worth about $257,000. Geode Capital Management LLC grew its holdings in shares of Rocket One Inc. Common Stock by 18.0% during the fourth 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 in the last quarter. Kestra Private Wealth Services LLC purchased a new stake in shares of Rocket One Inc. Common Stock during the third quarter worth about $51,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Rocket One Inc. Common Stock during the third quarter worth about $232,000. 7.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RKTO has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Rocket One Inc. Common Stock from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. D. Boral Capital reiterated a “buy” rating and issued a $5.00 price target on shares of Rocket One Inc. Common Stock in a report on Wednesday, March 25th. Finally, Weiss Ratings downgraded shares of Rocket One Inc. Common Stock from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.00.

Rocket One Inc. Common Stock Price Performance

Shares of NASDAQ RKTO opened at $1.48 on Friday. The company has a market cap of $33.03 million, a PE ratio of -1.85 and a beta of 0.89. Rocket One Inc. Common Stock has a 12 month low of $0.49 and a 12 month high of $2.45. The company has a 50-day simple moving average of $0.89 and a 200-day simple moving average of $0.98.

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

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.