Craig Hallum Forecasts Strong Price Appreciation for Rush Street Interactive (NYSE:RSI) Stock

Rush Street Interactive (NYSE:RSI) had its target price hoisted by investment analysts at Craig Hallum from $14.00 to $17.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price target points to a potential upside of 62.37% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on RSI. Jefferies Financial Group lifted their price objective on shares of Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC upped their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday. Oppenheimer raised their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company upped their target price on Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.43.

Rush Street Interactive Stock Down 2.7 %

NYSE RSI traded down $0.29 during trading hours on Thursday, hitting $10.47. The company had a trading volume of 1,700,619 shares, compared to its average volume of 1,584,248. The firm has a market cap of $2.36 billion, a P/E ratio of -114.89 and a beta of 1.79. Rush Street Interactive has a fifty-two week low of $3.46 and a fifty-two week high of $11.59. The business has a fifty day simple moving average of $10.22 and a 200-day simple moving average of $9.28.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06. Rush Street Interactive had a negative net margin of 0.84% and a negative return on equity of 12.45%. The company had revenue of $220.38 million for the quarter, compared to analyst estimates of $201.37 million. During the same quarter last year, the business earned ($0.08) earnings per share. Rush Street Interactive’s revenue was up 33.5% compared to the same quarter last year. Equities analysts forecast that Rush Street Interactive will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul Wierbicki sold 20,437 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $9.53, for a total value of $194,764.61. Following the transaction, the insider now owns 174,982 shares in the company, valued at approximately $1,667,578.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Richard Todd Schwartz sold 78,593 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $9.56, for a total transaction of $751,349.08. Following the transaction, the chief executive officer now owns 1,984,404 shares of the company’s stock, valued at approximately $18,970,902.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Wierbicki sold 20,437 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $9.53, for a total transaction of $194,764.61. Following the completion of the sale, the insider now directly owns 174,982 shares of the company’s stock, valued at approximately $1,667,578.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 548,210 shares of company stock valued at $5,179,362. Corporate insiders own 56.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. New York State Teachers Retirement System lifted its position in shares of Rush Street Interactive by 17.2% in the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after acquiring an additional 1,020 shares during the period. Precision Wealth Strategies LLC bought a new stake in Rush Street Interactive in the 3rd quarter valued at $349,000. OmniStar Financial Group Inc. increased its holdings in Rush Street Interactive by 581.2% in the 3rd quarter. OmniStar Financial Group Inc. now owns 80,862 shares of the company’s stock valued at $877,000 after buying an additional 68,992 shares during the period. nVerses Capital LLC bought a new position in shares of Rush Street Interactive during the 3rd quarter worth about $148,000. Finally, Creative Planning acquired a new stake in shares of Rush Street Interactive during the 3rd quarter valued at about $180,000. 24.78% of the stock is currently owned by institutional investors.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Mexico, and rest of Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines.