Rush Street Interactive, Inc. (NYSE:RSI – Get Free Report) shares gapped up prior to trading on Thursday after Needham & Company LLC raised their price target on the stock from $14.00 to $15.00. The stock had previously closed at $10.76, but opened at $11.45. Needham & Company LLC currently has a buy rating on the stock. Rush Street Interactive shares last traded at $10.57, with a volume of 691,446 shares changing hands.
Several other equities analysts have also weighed in on RSI. Oppenheimer increased 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 report on Thursday, August 1st. Craig Hallum lifted their price target on shares of Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company raised their price target on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.33.
Get Our Latest Stock Report on RSI
Insider Transactions at Rush Street Interactive
Hedge Funds Weigh In On Rush Street Interactive
A number of hedge funds and other institutional investors have recently modified their holdings of RSI. New York State Teachers Retirement System lifted its position in 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 buying an additional 1,020 shares during the last quarter. Precision Wealth Strategies LLC bought a new position in shares of Rush Street Interactive during the third quarter valued at about $349,000. OmniStar Financial Group Inc. lifted 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 worth $877,000 after buying an additional 68,992 shares during the period. nVerses Capital LLC purchased a new stake in Rush Street Interactive in the third quarter worth about $148,000. Finally, Creative Planning purchased a new stake in Rush Street Interactive during the 3rd quarter valued at $180,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.
Rush Street Interactive Stock Performance
The stock has a 50-day simple moving average of $10.22 and a two-hundred day simple moving average of $9.28. The firm has a market cap of $2.33 billion, a PE ratio of -122.44 and a beta of 1.79.
Rush Street Interactive (NYSE:RSI – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. The firm had revenue of $220.38 million for the quarter, compared to analysts’ expectations of $201.37 million. Rush Street Interactive had a negative return on equity of 12.45% and a negative net margin of 0.84%. The company’s revenue was up 33.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. As a group, sell-side analysts anticipate that Rush Street Interactive, Inc. will post -0.01 EPS for the current fiscal year.
About Rush Street Interactive
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.
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