Robinhood Markets, Inc. (NASDAQ:HOOD) Short Interest Up 11.4% in September

Robinhood Markets, Inc. (NASDAQ:HOOD) saw a large increase in short interest in September. As of September 15th, there was short interest totalling 23,780,000 shares, an increase of 11.4% from the August 31st total of 21,340,000 shares. Based on an average daily volume of 14,110,000 shares, the short-interest ratio is presently 1.7 days. Currently, 4.0% of the company’s stock are short sold.

Analysts Set New Price Targets

Several research firms recently weighed in on HOOD. JMP Securities reissued a “market outperform” rating and set a $30.00 price target on shares of Robinhood Markets in a report on Thursday, August 8th. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Monday. KeyCorp raised their price target on shares of Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Robinhood Markets has a consensus rating of “Hold” and an average price target of $23.63.

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $22.50, for a total value of $5,625,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $22.50, for a total transaction of $5,625,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total transaction of $285,000.00. Following the completion of the transaction, the insider now owns 956,247 shares in the company, valued at $21,802,431.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,204,096 shares of company stock valued at $23,603,793. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

Several hedge funds have recently bought and sold shares of HOOD. PNC Financial Services Group Inc. lifted its stake in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after buying an additional 722 shares in the last quarter. ORG Partners LLC acquired a new position in Robinhood Markets during the 2nd quarter valued at about $33,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Robinhood Markets in the first quarter worth approximately $34,000. International Assets Investment Management LLC bought a new position in shares of Robinhood Markets in the second quarter valued at approximately $40,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Robinhood Markets during the second quarter valued at approximately $45,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded down $1.01 during trading on Tuesday, reaching $22.41. The stock had a trading volume of 9,657,482 shares, compared to its average volume of 15,499,733. The firm’s fifty day moving average is $20.49 and its 200 day moving average is $20.25. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $24.88. The stock has a market cap of $19.69 billion, a price-to-earnings ratio of 156.60 and a beta of 1.82.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The company had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. During the same quarter in the previous year, the company earned $0.03 EPS. Robinhood Markets’s quarterly revenue was up 40.3% compared to the same quarter last year. On average, research analysts forecast that Robinhood Markets will post 0.76 earnings per share for the current fiscal year.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.