Rackspace Technology Inc. (RXT) concluded trading on 05/24/23 at a closing price of $1.34, with 1.35 million shares of worth about $1.81 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -71.79% during that period and on Wednesday the price saw a loss of about -4.96%. Currently the company’s common shares owned by public are about 213.20M shares, out of which, 205.75M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 9 analysts are covering the RXT stock and their offered price forecasts bring an average price target of $1.96. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $3.50 and could fall to a lowest price of $1.00. The stock’s current price level is 31.63% above of average price target set by the analysts, while a rise to estimated low would result in loss of -34.0% for the stock. However, touching the estimated high of $3.50 would mean a gain of 61.71% for the stock.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 54 times over the past 12 months. They bought 11,672,504 shares in 33 of the transactions. In 21 selling transactions, insiders dumped 530,635 shares.
Legal & General UCITS ETF PLC – C, First Trust Cloud Computing ETF, and Mackenzie US Mid Cap Growth Class are the top 3 mutual funds which are holding stakes in Rackspace Technology Inc. Legal & General UCITS ETF PLC – C is currently holding 10.16 million shares of worth totaling $14.84 million. The company recently came buying 0.0 shares which brought its stake up to 4.78% of the company’s outstanding shares. Mackenzie US Mid Cap Growth Class, after buying 3.84 million shares, have now control over 1.80% of the stake in the company. It holds 0.83 million shares of worth $5.6 million.
However, the stock later moved at a day high price of 1.4700, or with a loss of -4.96%. Stock saw a price change of 13.56% in past 5 days and over the past one month there was a price change of -6.62%. Year-to-date (YTD), RXT shares are showing a performance of -54.58% which decreased to -84.53% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.05 but also hit the highest price of $9.48 during that period. The average intraday trading volume for Rackspace Technology Inc. shares is 1.76 million. The stock is currently trading 3.72% above its 20-day simple moving average (SMA20), while that difference is down -17.45% for SMA50 and it goes to -60.85% lower than SMA200.
Rackspace Technology Inc. (NASDAQ: RXT) currently have 213.20M outstanding shares and institutions hold larger chunk of about 97.43% of that. Holding of mutual funds in the company is about — while other institutional holders and individual stake holders have control over — and — of the stake respectively.
The stock has a current market capitalization of $312.47M. It has posted earnings per share of -$6.50 in the same period. It has Quick Ratio of 1.20 while making debt-to-equity ratio of 154.07. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RXT, volatility over the week remained 17.25% while standing at 11.16% over the month.
Analysts are in expectations that Rackspace Technology Inc. (RXT) stock would likely to be making an EPS of -$0.08 in the current quarter, while forecast for next quarter EPS is -$0.05 and it is -$0.1 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.09 which is -$0.07 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.17 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -263.10% while it is estimated to increase by 50.00% in next year.
