In Wednesday’s session, Rush Street Interactive Inc. (NYSE:RSI) marked $2.79 per share, down from $3.05 in the previous session. While Rush Street Interactive Inc. has underperformed by -8.52%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RSI fell by -64.99%, with highs and lows ranging from $8.11 to $2.89, whereas the simple moving average fell by -35.02% in the last 200 days.
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On July 20, 2022, Susquehanna started tracking Rush Street Interactive Inc. (NYSE: RSI) recommending Neutral. A report published by JMP Securities on June 28, 2022, Initiated its previous ‘Mkt Outperform’ rating for RSI. Wells Fargo also Upgraded RSI shares as ‘Overweight’, setting a target price of $10 on the company’s shares in a report dated April 27, 2022. ROTH Capital initiated its ‘Buy’ rating for RSI, as published in its report on October 12, 2021. Wells Fargo’s report from September 15, 2021 suggests a price prediction of $15 for RSI shares, giving the stock a ‘Equal Weight’ rating. Macquarie also rated the stock as ‘Outperform’.
Analysis of Rush Street Interactive Inc. (RSI)
Further, the quarter-over-quarter increase in sales is 26.70%, showing a positive trend in the upcoming months.
Rush Street Interactive Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -58.70% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.80, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and RSI has an average volume of 481.11K. On a monthly basis, the volatility of the stock is set at 4.93%, whereas on a weekly basis, it is put at 5.04%, with a loss of -7.92% over the past seven days. Furthermore, long-term investors anticipate a median target price of $7.00, showing growth from the present price of $2.79, which can serve as yet another indication of whether RSI is worth investing in or should be passed over.
How Do You Analyze Rush Street Interactive Inc. Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 8.50%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 72.50% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in RSI shares?
The recent increase in stakes in RSI appears to be a result of several institutional investors and hedge funds increasing their positions. Goldman Sachs & Co. LLC made another increased to its shares in RSI during the first quarter, upping its stake by 18.21%. During the last quarter, the company dropped down 905,582 additional shares for a total stake of worth $24.63 million, bringing number of shares owned by the company to 5,878,196.
During the first quarter, The Vanguard Group, Inc. subtracted a -80,066 position in RSI. Nomura Securities Co., Ltd. purchased an additional 0.56 million shares in the last quarter, increasing its holdings by 13.38%, now holding 4.75 million shares worth $19.9 million. At the end of the first quarter, Canyon Capital Advisors LLC decreased its RSI holdings by -39.92% and now holds 3.45 million RSI shares valued at $14.44 million with the lessened -2.29 million shares during the period. RSI shares are owned by institutional investors to the tune of 72.50% at present.
