Short Interest in Robinhood Markets, Inc. (NASDAQ:HOOD) Rises By 13.6%

Robinhood Markets, Inc. (NASDAQ:HOOD) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 34,071,600 shares, an increase of 13.6% from the May 31st total of 29,990,000 shares. Approximately 7.0% of the shares of the company are short sold. Based on an average daily volume of 17,442,600 shares, the short-interest ratio is currently 2.0 days.

Robinhood Markets Price Performance

Shares of HOOD stock traded up $0.27 on Wednesday, reaching $22.73. 4,285,286 shares of the stock were exchanged, compared to its average volume of 16,177,164. Robinhood Markets has a one year low of $7.91 and a one year high of $24.28. The stock has a market cap of $19.98 billion, a PE ratio of 151.07 and a beta of 1.84. The stock has a 50 day moving average price of $20.28 and a 200 day moving average price of $16.64.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.13. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The firm had revenue of $618.00 million during the quarter, compared to analyst estimates of $552.74 million. During the same period last year, the company earned ($0.57) earnings per share. The company’s revenue was up 40.1% on a year-over-year basis. On average, research analysts expect that Robinhood Markets will post 0.56 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $18.67, for a total value of $4,667,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Jason Warnick sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $16.72, for a total value of $83,600.00. Following the sale, the chief financial officer now owns 997,407 shares of the company’s stock, valued at $16,676,645.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $18.67, for a total transaction of $4,667,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,481,733 shares of company stock worth $28,520,141. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of Robinhood Markets by 44.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after acquiring an additional 710 shares during the last quarter. Railway Pension Investments Ltd increased its holdings in Robinhood Markets by 52.6% in the first quarter. Railway Pension Investments Ltd now owns 2,393,031 shares of the company’s stock valued at $48,172,000 after purchasing an additional 825,307 shares during the last quarter. EULAV Asset Management lifted its stake in Robinhood Markets by 4.5% in the first quarter. EULAV Asset Management now owns 700,000 shares of the company’s stock valued at $14,091,000 after buying an additional 30,000 shares during the period. Cetera Advisors LLC bought a new position in Robinhood Markets during the first quarter worth about $606,000. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Robinhood Markets by 12.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,779,376 shares of the company’s stock worth $35,819,000 after buying an additional 197,245 shares during the period. 93.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HOOD has been the topic of several recent analyst reports. Bank of America raised Robinhood Markets from an “underperform” rating to a “buy” rating and boosted their price target for the company from $14.00 to $24.00 in a research note on Friday, May 17th. JMP Securities restated a “market outperform” rating and issued a $30.00 target price on shares of Robinhood Markets in a research note on Friday, June 7th. Sanford C. Bernstein began coverage on shares of Robinhood Markets in a research report on Thursday, March 14th. They set an “outperform” rating and a $30.00 target price for the company. Mizuho boosted their price target on shares of Robinhood Markets from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Citigroup raised their price objective on shares of Robinhood Markets from $16.00 to $18.00 and gave the stock a “sell” rating in a report on Thursday, June 13th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.77.

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.