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

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

Robinhood Markets Stock Performance

Shares of HOOD traded down $0.03 during mid-day trading on Monday, hitting $22.68. 4,088,486 shares of the stock were exchanged, compared to its average volume of 16,268,982. The company has a market cap of $19.93 billion, a PE ratio of 151.40 and a beta of 1.84. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $24.28. The firm has a 50-day moving average of $20.07 and a two-hundred day moving average of $16.49.

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

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the business’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the business’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Baiju Bhatt sold 16,667 shares of the business’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $17.16, for a total value of $286,005.72. Following the sale, the director now owns 36,045 shares of the company’s stock, valued at $618,532.20. The disclosure for this sale can be found here. Insiders have sold 1,481,733 shares of company stock valued at $28,520,141 over the last ninety days. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently modified their holdings of the stock. Seven Eight Capital LP bought a new position in Robinhood Markets in the 3rd quarter valued at $131,000. Banque Cantonale Vaudoise lifted its stake in shares of Robinhood Markets by 21,404.0% during the 1st quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock worth $1,948,000 after purchasing an additional 96,318 shares during the last quarter. Gulf International Bank UK Ltd purchased a new stake in shares of Robinhood Markets during the 4th quarter worth $764,000. Wellington Management Group LLP purchased a new stake in shares of Robinhood Markets during the 4th quarter worth $8,299,000. Finally, Strs Ohio purchased a new stake in shares of Robinhood Markets during the 4th quarter worth $750,000. Institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HOOD shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, June 20th. Keefe, Bruyette & Woods started coverage on Robinhood Markets in a research report on Wednesday, April 3rd. They set a “market perform” rating and a $20.00 price objective on the stock. KeyCorp lifted their price objective on Robinhood Markets from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price objective on shares of Robinhood Markets in a research report on Friday, June 7th. Finally, Piper Sandler lifted their price objective on Robinhood Markets from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.77.

Robinhood Markets Company Profile

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.