Root (NASDAQ:ROOT) Sets New 52-Week Low – Time to Sell?

Root, Inc. (NASDAQ:ROOT)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $55.33 and last traded at $55.0710, with a volume of 117844 shares. The stock had previously closed at $60.52.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Root from a “hold” rating to a “sell” rating in a research report on Sunday, January 18th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Root in a research note on Friday, November 7th. Wells Fargo & Company set a $75.00 price target on shares of Root and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Root in a research note on Monday, December 29th. Finally, Zacks Research upgraded shares of Root from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Root presently has an average rating of “Hold” and an average price target of $121.60.

Root Price Performance

The firm’s fifty day moving average price is $68.87 and its 200-day moving average price is $79.89. The stock has a market cap of $842.35 million, a P/E ratio of 16.41 and a beta of 2.76. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.76.

Institutional Trading of Root

Several large investors have recently added to or reduced their stakes in ROOT. State of Alaska Department of Revenue bought a new stake in shares of Root during the 3rd quarter valued at about $50,000. Russell Investments Group Ltd. boosted its position in Root by 511.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 734 shares of the company’s stock valued at $94,000 after acquiring an additional 614 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Root by 28.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,087 shares of the company’s stock worth $139,000 after acquiring an additional 241 shares during the period. Advisory Services Network LLC bought a new position in shares of Root in the 3rd quarter worth approximately $144,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Root by 237.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,278 shares of the company’s stock valued at $164,000 after purchasing an additional 899 shares during the period. Institutional investors own 59.82% of the company’s stock.

Root Company Profile

Root, trading on the Nasdaq under the ticker ROOT, is a Columbus, Ohio–based insurance company that leverages mobile technology and data analytics to offer personalized auto insurance policies. Founded in 2015 by Alex Timm and Dan Manges, Root set out to transform traditional underwriting by focusing on individual driving behavior rather than broad demographic factors.

The company’s core product is usage-based auto insurance, delivered through a smartphone app that monitors driving patterns such as speed, braking and phone usage behind the wheel.