Rocket One Inc. Common Stock (NASDAQ:RKTO) Short Interest Update

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

Wall Street Analysts Forecast Growth

Several research firms have commented on RKTO. Wall Street Zen raised shares of Rocket One Inc. Common Stock from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. Weiss Ratings upgraded shares of Rocket One Inc. Common Stock from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Finally, D. Boral Capital restated a “buy” rating and set a $5.00 price target on shares of Rocket One Inc. Common Stock in a report 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, the company currently has an average rating of “Hold” and a consensus price target of $5.00.

Rocket One Inc. Common Stock Stock Performance

Shares of RKTO traded down $0.01 during trading hours on Friday, hitting $0.83. 241,282 shares of the company were exchanged, compared to its average volume of 5,950,889. The company has a market cap of $18.60 million, a PE ratio of -1.04 and a beta of 0.93. The firm’s 50 day moving average is $1.04 and its 200-day moving average is $0.95. Rocket One Inc. Common Stock has a 52 week low of $0.49 and a 52 week high of $2.45.

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

Hedge Funds Weigh In On Rocket One Inc. Common Stock

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lido Advisors LLC raised its position in shares of Rocket One Inc. Common Stock by 100.0% in the first quarter. Lido Advisors LLC now owns 39,000 shares of the company’s stock valued at $33,000 after purchasing an additional 19,500 shares during the period. DRW Securities LLC bought a new stake in shares of Rocket One Inc. Common Stock during the 4th quarter worth $257,000. Citadel Advisors LLC bought a new stake in shares of Rocket One Inc. Common Stock during the 3rd quarter worth $232,000. Virtu Financial LLC acquired a new position in Rocket One Inc. Common Stock in the 3rd quarter valued at $184,000. Finally, Geode Capital Management LLC grew its stake in 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 valued at $179,000 after buying an additional 27,577 shares during the last quarter. Institutional investors and hedge funds own 7.08% of the company’s stock.

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.