Short Interest in Rocket One Inc. Common Stock (NASDAQ:RKTO) Drops By 36.3%

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

Institutional Trading of Rocket One Inc. Common Stock

A number of institutional investors have recently bought and sold shares of RKTO. Geode Capital Management LLC grew its stake in Rocket One Inc. Common Stock by 8.0% in the second quarter. Geode Capital Management LLC now owns 122,575 shares of the company’s stock valued at $143,000 after purchasing an additional 9,071 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Rocket One Inc. Common Stock during the 3rd quarter worth about $184,000. Citadel Advisors LLC purchased a new stake in shares of Rocket One Inc. Common Stock during the 3rd quarter worth about $232,000. Lido Advisors LLC acquired a new stake in shares of Rocket One Inc. Common Stock during the 3rd quarter valued at about $32,000. Finally, Kestra Private Wealth Services LLC acquired a new stake in shares of Rocket One Inc. Common Stock during the 3rd quarter valued at about $51,000. Institutional investors and hedge funds own 7.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RKTO shares. Weiss Ratings upgraded Rocket One Inc. Common Stock from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. D. Boral Capital reissued a “buy” rating and issued a $5.00 price objective on shares of Rocket One Inc. Common Stock in a research note on Wednesday, March 25th. Finally, Wall Street Zen upgraded Rocket One Inc. Common Stock from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.00.

Rocket One Inc. Common Stock Trading Down 1.5%

RKTO stock traded down $0.01 during midday trading on Friday, reaching $0.83. The company had a trading volume of 241,282 shares, compared to its average volume of 5,950,889. Rocket One Inc. Common Stock has a 1 year low of $0.49 and a 1 year high of $2.45. The company has a market capitalization of $18.60 million, a P/E ratio of -1.04 and a beta of 0.93. The company has a 50 day moving average of $1.04 and a two-hundred day moving average of $0.95.

Rocket One Inc. Common Stock (NASDAQ:RKTO) last issued its earnings results 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).

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.