Rocket One Inc. Common Stock (NASDAQ:RKTO) Short Interest Up 75.3% in July

Rocket One Inc. Common Stock (NASDAQ:RKTO) was the target of a large increase in short interest during the month of 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 trading volume of 15,841,226 shares, the days-to-cover ratio is presently 0.3 days. Currently, 25.3% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Rocket One Inc. Common Stock Stock Performance

RKTO stock traded up $0.07 during midday trading on Thursday, reaching $0.82. 2,823,020 shares of the company traded hands, compared to its average volume of 5,636,048. The firm has a market capitalization of $18.41 million, a price-to-earnings ratio of -1.03 and a beta of 0.93. Rocket One Inc. Common Stock has a 52-week low of $0.49 and a 52-week high of $2.45. The business has a 50 day moving average of $1.07 and a 200-day moving average of $0.93.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RKTO. Geode Capital Management LLC boosted its stake in Rocket One Inc. Common Stock by 8.0% during the second quarter. Geode Capital Management LLC now owns 122,575 shares of the company’s stock worth $143,000 after buying an additional 9,071 shares during the period. Virtu Financial LLC purchased a new stake in shares of Rocket One Inc. Common Stock in the third quarter valued at $184,000. Citadel Advisors LLC bought a new stake in shares of Rocket One Inc. Common Stock in the 3rd quarter worth about $232,000. Lido Advisors LLC bought a new stake in shares of Rocket One Inc. Common Stock in the 3rd quarter worth about $32,000. Finally, 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. 7.08% of the stock is owned by hedge funds and other 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.