Rocket One Inc. Common Stock (NASDAQ:RKTO) Shares Down 5.2% – Here’s Why

Shares of Rocket One Inc. Common Stock (NASDAQ:RKTO) fell 5.2% during mid-day trading on Wednesday . The stock traded as low as $0.94 and last traded at $0.9482. Approximately 495,041 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 5,940,086 shares. The stock had previously closed at $1.00.

Analysts Set New Price Targets

A number of equities analysts recently commented on RKTO shares. Wall Street Zen raised Rocket One Inc. Common Stock from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. 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. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $5.00 price objective 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.00.

Rocket One Inc. Common Stock Price Performance

The company has a 50-day moving average of $1.01 and a 200 day moving average of $0.96. The company has a market cap of $21.16 million, a PE ratio of -1.19 and a beta of 0.93.

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

Institutional Trading of Rocket One Inc. Common Stock

Institutional investors have recently bought and sold shares of the stock. Lido Advisors LLC boosted its stake in Rocket One Inc. Common Stock by 100.0% during the first quarter. Lido Advisors LLC now owns 39,000 shares of the company’s stock worth $33,000 after buying an additional 19,500 shares during the period. DRW Securities LLC purchased a new stake in shares of Rocket One Inc. Common Stock in the fourth quarter valued at $257,000. Geode Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 27,577 shares during the last quarter. Kestra Private Wealth Services LLC purchased a new position in shares of Rocket One Inc. Common Stock during the 3rd quarter worth about $51,000. Finally, Citadel Advisors LLC purchased a new position in shares of Rocket One Inc. Common Stock during the 3rd quarter worth about $232,000. 7.08% of the stock is currently owned by institutional investors.

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.