Rocket One Inc. Common Stock (NASDAQ:RKTO) Stock Falls 4.5% – Here’s What Happened

Rocket One Inc. Common Stock (NASDAQ:RKTO) was down 4.5% on Wednesday. The stock traded as low as $0.6645 and last traded at $0.67. 197,693 shares were traded during mid-day trading, a decline of 57% from the average session volume of 464,941 shares. The stock had previously closed at $0.7014.

Analyst Ratings Changes

Several research analysts have recently weighed in on RKTO shares. Weiss Ratings raised shares of Rocket One Inc. Common Stock from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, September 16th. Wall Street Zen downgraded shares of Rocket One Inc. Common Stock from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 16th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.00.

Rocket One Inc. Common Stock Stock Up 0.5%

The firm has a market capitalization of $14.49 million, a PE ratio of -0.79 and a beta of 0.90. The company’s fifty day simple moving average is $0.74 and its 200 day simple moving average is $0.84.

Rocket One Inc. Common Stock (NASDAQ:RKTO) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.19) earnings per share for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Rocket One Inc. Common Stock stock. Lido Advisors LLC raised its stake in Rocket One Inc. Common Stock (NASDAQ:RKTO) by 100.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,000 shares of the company’s stock after acquiring an additional 19,500 shares during the period. Lido Advisors LLC owned approximately 0.20% of Rocket One Inc. Common Stock worth $33,000 as of its most recent SEC filing. Institutional investors own 7.08% of the company’s stock.

Rocket One Inc. Common Stock Company Profile

Hoth Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapies for unmet medical needs. It is involved in the development of HT-001, a topical formulation, which is in Phase II clinical trial for the treatment of patients with rash and skin disorders associated with initial and repeat courses of tyrosine kinase epidermal growth factor receptor inhibitor therapy; HT-KIT to treat mast-cell derived cancers and anaphylaxis; HT-TBI to treat traumatic brain injury and ischemic stroke; HT-ALZ for the treatment and/or prevention of Alzheimer's or other neuroinflammatory diseases; HT-004 for treatment of asthma and allergies using inhalational administration; HT-003 for the treatment of acne and psoriasis, as well as inflammatory bowel diseases; and HT-002, a novel peptide for treating COVID-19.