Rush Street Interactive (NYSE:RSI) Shares Gap Down – What’s Next?

Rush Street Interactive, Inc. (NYSE:RSI)’s share price gapped down prior to trading on Monday . The stock had previously closed at $11.01, but opened at $10.74. Rush Street Interactive shares last traded at $10.59, with a volume of 285,242 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Needham & Company LLC upped their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company boosted their price target on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Craig Hallum raised their price objective on Rush Street Interactive from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Oppenheimer upped their target price on Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.17.

Rush Street Interactive Stock Up 2.0 %

The stock has a fifty day simple moving average of $10.04 and a 200-day simple moving average of $9.12. The company has a market capitalization of $2.46 billion, a P/E ratio of -64.29 and a beta of 1.79.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.06. The firm had revenue of $220.38 million for the quarter, compared to analysts’ expectations of $201.37 million. Rush Street Interactive had a negative net margin of 0.84% and a negative return on equity of 12.45%. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) earnings per share. Analysts predict that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Einar Roosileht sold 150,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the transaction, the insider now owns 809,260 shares of the company’s stock, valued at $7,356,173.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Richard Todd Schwartz sold 78,593 shares of Rush Street Interactive stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $9.56, for a total transaction of $751,349.08. Following the completion of the sale, the chief executive officer now owns 1,984,404 shares in the company, valued at $18,970,902.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Einar Roosileht sold 150,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the completion of the transaction, the insider now owns 809,260 shares in the company, valued at $7,356,173.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 548,210 shares of company stock valued at $5,179,362. Company insiders own 56.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP grew its stake in shares of Rush Street Interactive by 15.9% during the second quarter. Quarry LP now owns 8,762 shares of the company’s stock worth $84,000 after purchasing an additional 1,200 shares during the period. CWM LLC grew its position in shares of Rush Street Interactive by 425.6% during the 3rd quarter. CWM LLC now owns 9,209 shares of the company’s stock worth $100,000 after buying an additional 7,457 shares during the period. Principal Financial Group Inc. acquired a new position in Rush Street Interactive during the second quarter valued at approximately $98,000. Allspring Global Investments Holdings LLC increased its stake in Rush Street Interactive by 13,627.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after purchasing an additional 11,856 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Rush Street Interactive during the third quarter worth $148,000. 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.