Rush Street Interactive (NYSE:RSI) Reaches New 12-Month High at $10.36

Rush Street Interactive, Inc. (NYSE:RSI)’s share price reached a new 52-week high on Monday . The company traded as high as $10.36 and last traded at $10.36, with a volume of 60524 shares traded. The stock had previously closed at $9.99.

Analysts Set New Price Targets

Several research analysts recently issued reports on RSI shares. Craig Hallum upped their target price on Rush Street Interactive from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Oppenheimer lifted their target price on shares of Rush Street Interactive from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Wells Fargo & Company boosted their target price on shares of Rush Street Interactive from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Rush Street Interactive presently has an average rating of “Moderate Buy” and a consensus price target of $8.83.

Rush Street Interactive Trading Down 4.2 %

The business’s 50-day simple moving average is $9.18 and its 200-day simple moving average is $7.14. The company has a market capitalization of $2.26 billion, a PE ratio of -59.06 and a beta of 1.79.

Rush Street Interactive (NYSE:RSI) last issued its earnings results on Wednesday, May 1st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.04. Rush Street Interactive had a negative net margin of 1.58% and a negative return on equity of 15.68%. The firm had revenue of $217.43 million during the quarter, compared to analysts’ expectations of $203.05 million. Sell-side analysts forecast that Rush Street Interactive, Inc. will post -0.05 EPS for the current fiscal year.

Institutional Trading of Rush Street Interactive

Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. boosted its holdings in Rush Street Interactive by 157.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock worth $13,666,000 after buying an additional 872,367 shares in the last quarter. Nomura Holdings Inc. boosted its stake in shares of Rush Street Interactive by 24.7% during the 4th quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock worth $18,788,000 after acquiring an additional 828,984 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Rush Street Interactive during the 1st quarter worth about $1,673,000. SG Americas Securities LLC acquired a new stake in shares of Rush Street Interactive during the 2nd quarter valued at about $1,565,000. Finally, Vanguard Group Inc. increased its stake in shares of Rush Street Interactive by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock valued at $35,683,000 after purchasing an additional 85,736 shares in the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

About Rush Street Interactive

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Mexico, and rest of Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines.