Rush Street Interactive (NYSE:RSI) Sets New 12-Month High at $10.55

Shares of Rush Street Interactive, Inc. (NYSE:RSI) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $10.55 and last traded at $10.33, with a volume of 425626 shares traded. The stock had previously closed at $10.34.

Analyst Ratings Changes

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

Rush Street Interactive Price Performance

The firm has a 50-day moving average of $9.25 and a two-hundred day moving average of $7.25.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. raised its position in Rush Street Interactive by 24.7% in the fourth quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock valued at $18,788,000 after purchasing an additional 828,984 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Rush Street Interactive by 13,627.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after acquiring an additional 11,856 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Rush Street Interactive by 33.2% during the fourth quarter. SG Americas Securities LLC now owns 15,108 shares of the company’s stock worth $68,000 after acquiring an additional 3,764 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Rush Street Interactive during the first quarter worth about $148,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Rush Street Interactive by 665.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 21,923 shares of the company’s stock worth $98,000 after acquiring an additional 19,058 shares during the last quarter. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Company Profile

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.