Rocket One Inc. Common Stock (NASDAQ:RKTO) Trading Up 22.1% – Here’s Why

Rocket One Inc. Common Stock (NASDAQ:RKTO) traded up 22.1% during mid-day trading on Wednesday . The stock traded as high as $0.9278 and last traded at $0.90. 2,248,917 shares traded hands during trading, an increase of 704% from the average session volume of 279,780 shares. The stock had previously closed at $0.7371.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wall Street Zen cut shares of Rocket One Inc. Common Stock from a “sell” rating to a “strong sell” rating in a report on Sunday, August 16th. Weiss Ratings upgraded shares of Rocket One Inc. Common Stock from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.00.

Rocket One Inc. Common Stock Trading Up 1.2%

The firm’s fifty day moving average price is $0.77 and its 200 day moving average price is $0.87. The firm has a market capitalization of $17.84 million, a PE ratio of -0.97 and a beta of 0.94.

Rocket One Inc. Common Stock (NASDAQ:RKTO) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.19) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Rocket One Inc. Common Stock

An institutional investor recently raised its position in Rocket One Inc. Common Stock stock. Lido Advisors LLC raised its holdings in Rocket One Inc. Common Stock (NASDAQ:RKTO) by 100.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,000 shares of the company’s stock after acquiring an additional 19,500 shares during the quarter. Lido Advisors LLC owned about 0.20% of Rocket One Inc. Common Stock worth $33,000 at the end of the most recent quarter. 7.08% of the stock is owned by institutional investors and hedge funds.

About Rocket One Inc. Common Stock

Hoth Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapies for unmet medical needs. It is involved in the development of HT-001, a topical formulation, which is in Phase II clinical trial for the treatment of patients with rash and skin disorders associated with initial and repeat courses of tyrosine kinase epidermal growth factor receptor inhibitor therapy; HT-KIT to treat mast-cell derived cancers and anaphylaxis; HT-TBI to treat traumatic brain injury and ischemic stroke; HT-ALZ for the treatment and/or prevention of Alzheimer's or other neuroinflammatory diseases; HT-004 for treatment of asthma and allergies using inhalational administration; HT-003 for the treatment of acne and psoriasis, as well as inflammatory bowel diseases; and HT-002, a novel peptide for treating COVID-19.