Short Interest in Rocket One Inc. Common Stock (NASDAQ:RKTO) Expands By 701.2%

Rocket One Inc. Common Stock (NASDAQ:RKTO) saw a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 6,435,486 shares, an increase of 701.2% from the May 14th total of 803,235 shares. Based on an average trading volume of 32,066,513 shares, the days-to-cover ratio is presently 0.2 days. Currently, 31.0% of the shares of the company are sold short.

Hedge Funds Weigh In On Rocket One Inc. Common Stock

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Rocket One Inc. Common Stock by 8.0% during the 2nd quarter. Geode Capital Management LLC now owns 122,575 shares of the company’s stock valued at $143,000 after buying an additional 9,071 shares during the last quarter. Lido Advisors LLC bought a new position in shares of Rocket One Inc. Common Stock during the 3rd quarter valued at $32,000. Kestra Private Wealth Services LLC bought a new position in shares of Rocket One Inc. Common Stock during the 3rd quarter valued at $51,000. Virtu Financial LLC bought a new position in shares of Rocket One Inc. Common Stock during the 3rd quarter valued at $184,000. Finally, Citadel Advisors LLC bought a new position in shares of Rocket One Inc. Common Stock during the 3rd quarter valued at $232,000. 7.08% of the stock is currently owned by hedge funds and other institutional investors.

Rocket One Inc. Common Stock Trading Up 11.3%

Shares of RKTO traded up $0.15 during midday trading on Thursday, hitting $1.48. The stock had a trading volume of 6,431,157 shares, compared to its average volume of 5,203,220. Rocket One Inc. Common Stock has a fifty-two week low of $0.49 and a fifty-two week high of $2.45. The business has a 50-day simple moving average of $0.88 and a two-hundred day simple moving average of $0.98. The firm has a market cap of $33.04 million, a P/E ratio of -1.85 and a beta of 0.89.

Rocket One Inc. Common Stock (NASDAQ:RKTO) last announced its earnings results on Friday, May 15th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.03).

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RKTO. D. Boral Capital reissued a “buy” rating and set a $5.00 price target on shares of Rocket One Inc. Common Stock in a report on Wednesday, March 25th. Weiss Ratings lowered Rocket One Inc. Common Stock from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Finally, Wall Street Zen raised Rocket One Inc. Common Stock from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.00.

Rocket One Inc. Common Stock Company Profile

Hoth Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the acquisition, licensing and development of novel therapies for dermatological, central nervous system and other debilitating conditions. The company’s strategy emphasizes in-licensing late preclinical or early clinical assets with promising pharmacological profiles and leveraging formulation science to optimize delivery. Core to its approach is the design of topical and localized administration platforms intended to enhance drug penetration, sustain release and reduce systemic exposure.

Hoth’s development pipeline encompasses multiple candidate programs addressing high-unmet-need areas such as atopic dermatitis, epidermolysis bullosa and oral mucositis.