Rite Aid Co. (RAD) Short Interest Update

Rite Aid Co. (NYSE:RAD) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 143,458,714 shares, a decline of 8.8% from the January 12th total of 157,377,704 shares. Currently, 13.6% of the company’s shares are short sold. Based on an average daily volume of 19,487,817 shares, the days-to-cover ratio is presently 7.4 days.

RAD has been the topic of a number of recent analyst reports. Royal Bank of Canada set a $2.00 price objective on Rite Aid and gave the company a “hold” rating in a research note on Wednesday, October 25th. Zacks Investment Research raised Rite Aid from a “sell” rating to a “hold” rating in a research note on Friday, November 17th. Deutsche Bank initiated coverage on Rite Aid in a research note on Monday, December 4th. They issued a “hold” rating and a $2.25 price objective on the stock. Evercore ISI initiated coverage on Rite Aid in a research note on Thursday, January 4th. They issued an “underperform” rating and a $1.50 price objective on the stock. Finally, Vetr downgraded Rite Aid from a “strong-buy” rating to a “buy” rating and set a $2.47 price objective on the stock. in a research note on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Rite Aid currently has an average rating of “Hold” and an average price target of $2.75.

Rite Aid (RAD) opened at $2.00 on Tuesday. Rite Aid has a 52 week low of $1.38 and a 52 week high of $6.15. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.59 and a current ratio of 0.86. The firm has a market capitalization of $2,140.00, a P/E ratio of 18.18 and a beta of 1.76.

Hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. raised its stake in Rite Aid by 49.8% during the 2nd quarter. Advisor Group Inc. now owns 36,518 shares of the company’s stock worth $101,000 after buying an additional 12,140 shares during the period. Verition Fund Management LLC acquired a new position in Rite Aid during the 2nd quarter worth approximately $120,000. Harbor Advisors LLC raised its stake in Rite Aid by 300.0% during the 3rd quarter. Harbor Advisors LLC now owns 80,000 shares of the company’s stock worth $157,000 after buying an additional 60,000 shares during the period. Brave Asset Management Inc. raised its stake in Rite Aid by 52.4% during the 4th quarter. Brave Asset Management Inc. now owns 80,000 shares of the company’s stock worth $158,000 after buying an additional 27,500 shares during the period. Finally, Parametrica Management Ltd acquired a new position in Rite Aid during the 4th quarter worth approximately $182,000. 49.48% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This piece of content was first posted by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of U.S. and international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/13/rite-aid-co-rad-short-interest-update-2.html.

About Rite Aid

Rite Aid Corporation is a retail drugstore chain. The Company’s segments include Retail Pharmacy and Pharmacy Services. The Company operates under The Rite Aid name. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia. The Company’s Retail Pharmacy segment consists of Rite Aid stores, RediClinic and Health Dialog.

Receive News & Ratings for Rite Aid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rite Aid and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply