Rite Aid Corporation (NYSE:RAD) Short Interest & Technical Update

Andrew Cummings
October 6, 2017

Mizuho downgraded shares of Rite Aid Corporation from a "buy" rating to a "neutral" rating and set a $2.95 price target for the company.in a report on Thursday, July 20th. The stock price is showing discouraging image with current unsupportive move of -0.48% at trading price of $2.09. The stock traded within a range of $2.08 and $2.15. The stock of Rite Aid Corporation (NYSE:RAD) has "Hold" rating given on Wednesday, January 6 by Evercore. It has underperformed by 71.88% the S&P500. Rite Aid Corporation (RAD) has a market cap of $2.28 billion and over the last 12 months, Rite Aid Corporation (NYSE:RAD) has gone weaker by -72.46%. The Cantillon Capital Management Llc holds 7.80 million shares with $284.06 million value, down from 8.15 million last quarter. Investors who are keeping close eye on the stock of Micron Technology, Inc. Colfax Corp (NYSE:CFX) has risen 61.22% since October 5, 2016 and is uptrending. It has outperformed by 4.63% the S&P500.

Rite Aid Corporation (NYSE:RAD) received a Buy rating from 0 analysts. Therefore 14% are positive. Rite Aid had 20 analyst reports since August 6, 2015 according to SRatingsIntel. Deutsche Bank downgraded the stock to "Hold" rating in Friday, April 8 report. The company has a market cap of $2.29B. On Friday, September 29 the stock rating was maintained by Loop Capital with "Hold". Analysts giving shares a rating of 1 or 2 would be indicating a Buy.

Volume patterns are useful for gauging the level of conviction behind price changes, and can be used to make predictions about future price movements. The firm has "Underperform" rating by Bank of America given on Friday, June 30. The rating was downgraded by JP Morgan to "Neutral" on Friday, November 13. Trading volume for Rite Aid Corporation was 19.9 Million in its previous trading session.

Investors sentiment decreased to 0.78 in 2017 Q2.

When investors engage in short selling or "shorting a stock", they actually borrow shares from an existing owner, sell the borrowed shares at market price, and take the cash. It fall, as 85 investors sold RAD shares while 96 reduced holdings.

Among institutions that increased their positions, 50 were new positions.

Bank of America Corporation (NYSE:BAC) jumped up1.10% and closed at $25.62 in the last trading session with the overall traded volume of 53.9 Million shares versus to the average volume of 67277.62 shares. Natixis invested in 3.88M shares or 0.13% of the stock. 75,249 shares or 53.97% less from 163,468 shares in 2017Q1 were reported. Rite Aid Corporation had a negative return on equity of 7.51% and a net margin of 0.28%. They expect $0.35 earnings per share, down 50.00% or $0.35 from last year's $0.7 per share. Ascend Capital Ltd Liability owns 420,406 shares. Parallax Volatility Advisers LP owns 4,422 shares for 0% of their portfolio. Peak6 Invests Lp owns 587,461 shares. Vantage Inv Advsrs Ltd Llc invested 0% of its portfolio in Rite Aid Corporation (NYSE:RAD). Atlas Browninc holds 0.27% of its portfolio in Rite Aid Corporation (NYSE:RAD) for 103,000 shares. Tci Wealth Advisors has 3,879 shares.

Rite Aid Corp (NYSE:RAD)'s trailing twelve month revenues are $32.44 Billion, whereas its price to sales ratio for the same period is 0.07.

Symons Capital Management Inc decreased Entergy Corp. (NYSE:AES) by 31,945 shares to 1.18M shares, valued at $13.13 million in 2017Q2, according to the filing. Rhenman & Partners Asset Management Ab added to its stake by buying 50,000 shares an increase of 16.7% in the quarter. Its down 0.46, from 1.24 in 2017Q1. 0 funds opened positions while 0 raised stakes. 12,000 were reported by Shikiar Asset Mngmt Inc. Jump Trading Lc invested in 0% or 1,200 shares. Millennium Mngmt Ltd has 0.01% invested in Medidata Solutions Inc (NASDAQ:MDSO) for 38,756 shares.

Several hedge funds have recently bought and sold shares of the company. Public Employees Retirement Sys Of Ohio reported 0.05% in Medidata Solutions Inc (NASDAQ:MDSO). 22,500 were accumulated by Boston Family Office Limited Liability Corp. (NYSE:SVU) to report earnings on October, 18.

Institutional owners hold 54.70% stake while Insiders ownership held at 0.90% in the company. CBG's profit will be $182.42M for 17.87 P/E if the $0.54 EPS becomes a reality. After $0.18 actual EPS reported by Medidata Solutions Inc for the previous quarter, Wall Street now forecasts 5.56% EPS growth. The value of the investment in Rite Aid Corporation decreased from $5,423,000 to $1,587,000 a change of $3,836,000 for the reporting period.

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