Rocket One Inc. Common Stock (NASDAQ:RKTO) Sees Significant Increase in Short Interest

Rocket One Inc. Common Stock (NASDAQ:RKTO) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 5,250,294 shares, an increase of 75.3% from the June 30th total of 2,994,254 shares. Based on an average daily trading volume, of 15,841,226 shares, the short-interest ratio is presently 0.3 days. Approximately 25.3% of the shares of the stock are short sold.

Rocket One Inc. Common Stock Stock Performance

RKTO opened at $0.80 on Friday. Rocket One Inc. Common Stock has a 52-week low of $0.49 and a 52-week high of $2.45. The stock has a market capitalization of $17.86 million, a P/E ratio of -1.00 and a beta of 0.93. The company’s 50-day simple moving average is $1.07 and its two-hundred day simple moving average is $0.93.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RKTO. DRW Securities LLC purchased a new position in shares of Rocket One Inc. Common Stock during the fourth quarter valued at about $257,000. Geode Capital Management LLC increased 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 worth $179,000 after buying an additional 27,577 shares during the period. Citadel Advisors LLC purchased a new position in shares of Rocket One Inc. Common Stock during the third quarter worth approximately $232,000. Virtu Financial LLC bought a new position in Rocket One Inc. Common Stock in the third quarter worth approximately $184,000. Finally, Lido Advisors LLC grew its position in shares of Rocket One Inc. Common Stock by 100.0% during the 1st 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. Hedge funds and other institutional investors own 7.08% of the company’s stock.

Analyst Ratings Changes

RKTO has been the subject of a number of recent research reports. Weiss Ratings raised Rocket One Inc. Common Stock from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. Wall Street Zen cut shares of Rocket One Inc. Common Stock from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.00.

About Rocket One Inc. Common Stock

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.