(NYSE:RAD) Sees Significant Drop in Short Interest

Feb 25, 2018, 01:58
(NYSE:RAD) Sees Significant Drop in Short Interest

Analysts often look at short interest, or the number of shares now being shorted by investors, to aid in their outlook for a particular stock. The institutional investor held 2,165 shares of the aerospace company at the end of 2017Q3, valued at $550,000, down from 218,908 at the end of the previous reported quarter. Investors saw a negative move of -0.98% in last five trading days. About 1.73 million shares traded. Company fiscal year is ending in February and analysts' consensus recommendation is Hold for RAD and estimated EPS for next quarter is 0.11. Westchester Capital Management Llc sold 5.15 million shares as the company's stock declined 41.75% while stock markets rallied. The hedge fund run by Joshua Friedman held 2.00M shares of the medical and nursing services company at the end of 2017Q3, valued at $3.92M, up from 481,175 at the end of the previous reported quarter.

Rite Aid Co. has a one year low of $1.38 and a one year high of $6.04.

The Stock surged9.55% and closed its last trading session at $0.01. About 6.12 million shares traded.

More notable recent Rite Aid Corporation (NYSE:RAD) news were published by: Dallasnews.com which released: "Two things Texas shoppers gain from Albertsons buying Rite Aid" on February 21, 2018, also Seekingalpha.com with their article: "Rite Aid: Destination Insignificance" published on February 12, 2018, Seekingalpha.com published: "Rite Aid's Turnaround Is Inevitable" on January 30, 2018. It has underperformed by 71.88% the S&P500. LPL Financial LLC increased its stake in Rite Aid by 80.7% in the fourth quarter. Cowen Inc. raised its position in Rite Aid by 173.9% in the third quarter.

Since October 3, 2017, it had 0 insider buys, and 1 insider sale for $58,915 activity. Therefore 37% are positive. Bank of America initiated Rite Aid Corporation (NYSE:RAD) rating on Thursday, August 13. Stock has got OUTPERFORM rating from 1 analyst (s) whereas last month 1 analyst (s) have given outperform rating. The stock presently has a consensus rating of "Hold" and a consensus target price of $2.75. The firm has "Neutral" rating by Goldman Sachs given on Thursday, October 29. The rating was upgraded by Vetr to "Buy" on Friday, August 14.

ILLEGAL ACTIVITY NOTICE: "Rite Aid (RAD) Bond Prices Rise 2.5%" was reported by The Lincolnian Online and is the sole property of of The Lincolnian Online.

Among 14 analysts covering Rite Aid (NYSE:RAD), 2 have Buy rating, 2 Sell and 10 Hold. Fincl Incorporated invested 0% in Rite Aid Corporation (NYSE:RAD). The firm earned "Hold" rating on Friday, April 8 by Deutsche Bank. The firm earned "Neutral" rating on Friday, August 5 by Atlantic Securities.

Rite Aid Corporation is a retail drugstore chain in the United States serving customers in numerous states across the country and in the District of Columbia.

Investors sentiment increased to 0.97 in 2017 Q3. Its down 0.10, from 0.98 in 2017Q2. It increased, as 57 investors sold RAD shares while 77 reduced holdings.

The company is expected to report earnings of $-0.01 a share for the next quarter. WOOTEN ROSALIE OREILLY had sold 5,000 shares worth $1.00 million. Vetr cut shares of Rite Aid from a "strong-buy" rating to a "buy" rating and set a $2.47 price objective for the company.in a research report on Thursday, January 11th. Kbc Nv, Belgium-based fund reported 98,593 shares. Bridgewater Assoc Limited Partnership invested in 0% or 1,507 shares. Hsbc Public Ltd Co has 0% invested in Rite Aid Corporation (NYSE:RAD) for 473,949 shares. Advisors Asset Management Inc. owns 347,402 shares or 0.13% of their USA portfolio. 1832 Asset Lp holds 530,000 shares or 0% of its portfolio. 168,900 were reported by Connor Clark & Lunn Inv Management Ltd. Atlas Browninc reported 0.04% stake. Wade G W & Inc, a Massachusetts-based fund reported 25,332 shares.

Investors sentiment decreased to 0.88 in 2017 Q3. Its down 0.08, from 0.71 in 2017Q2. Pub Employees Retirement Association Of Colorado reported 204,823 shares. Moreover, National Planning Corp has 0.08% invested in the company for 18,219 shares. Colony Gru Llc invested in 0.02% or 6,356 shares. Davis R M, a Maine-based fund reported 194,788 shares. (NASDAQ:TSLA) or 5,157 shares. Par Capital Mngmt has 0.2% invested in Rite Aid Corporation (NYSE:RAD). First Bancorporation Of Omaha accumulated 494,380 shares. Johnson Gru holds 24,924 shares. Beta for Rennova Health, Inc. stands at -0.61. Horan Advsr Limited Liability has invested 0.03% of its portfolio in ConocoPhillips (NYSE:COP). Fernwood Invest Management Limited Liability Co invested in 0.03% or 26,700 shares. 4,370 were accumulated by Family Firm Inc. Millennium Mgmt Lc owns 2.17 million shares for 0.01% of their portfolio. TRI Pointe Group, Inc.is a part of Industrial Goods sector and belongs to Residential Construction industry. Therefore 37% are positive. TowerJazz had 19 analyst reports since August 6, 2015 according to SRatingsIntel. As per Friday, June 30, the company rating was reinitiated by Evercore. Zacks Investment Research upgraded shares of Rite Aid from a "sell" rating to a "hold" rating in a report on Monday, February 5th. The company was maintained on Wednesday, November 15 by Credit Suisse. Numis Securities maintained the stock with "Hold" rating in Tuesday, September 1 report. The firm earned "Buy" rating on Thursday, September 7 by Needham.