Rocket One Inc. Common Stock (NASDAQ:RKTO) Stock Short Interest Drops 52.8%

Rocket One Inc. Common Stock (NASDAQ:RKTO) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totaling 992,927 shares, a decrease of 52.8% from the September 15th total of 2,105,431 shares. Based on an average daily trading volume, of 496,261 shares, the days-to-cover ratio is presently 2.0 days. Currently, 4.8% of the company’s stock are sold short.

Institutional Trading of Rocket One Inc. Common Stock

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

Wall Street Analysts Forecast Growth

RKTO has been the topic of several recent analyst reports. Wall Street Zen cut Rocket One Inc. Common Stock from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 16th. 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. One research 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, the stock has a consensus rating of “Hold” and an average target price of $5.00.

Rocket One Inc. Common Stock Stock Down 5.0%

Rocket One Inc. Common Stock stock traded down $0.03 during midday trading on Wednesday, hitting $0.54. 146,564 shares of the stock were exchanged, compared to its average volume of 4,227,593. Rocket One Inc. Common Stock has a 52-week low of $0.49 and a 52-week high of $2.45. The business’s 50-day moving average price is $0.73 and its 200-day moving average price is $0.84. The stock has a market capitalization of $12.11 million, a price-to-earnings ratio of -0.66 and a beta of 0.90.

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

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.