The trading price of Root, Inc. (NASDAQ:ROOT) closed lower on Friday, Feb 19, closing at $18.36, -3% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $17.60 and $18.76. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 0. In examining the 52-week price action we see that the stock hit a 52-week high of $29.48 and a 52-week low of $13.57. Over the past month, the stock has suffered -0.39% in value.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned ROOT a recommendation rating is 12. Out of them, 8 rate it a Hold, while 4 recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged Root, Inc. (ROOT) as Underperform, while not any of them advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that ROOT’s price is currently -13.97% off the SMA20 and -3.28% off the SMA50. The RSI metric on the 14-day chart is currently showing 39.44, and weekly volatility stands at 6.77%. When measured over the past 30 days, the indicator reaches 8.86%. Root, Inc. (NASDAQ:ROOT)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 1.75. With analysts defining $13-$30 as the low and high price targets, we arrive at a consensus price target of $22.58 for the trailing 12-month period. The current price is about -27.01% off the estimated low and 68.44% off the forecast high, based on this estimate. Investors will be thrilled if ROOT’s share price rises to $21.5, which is the median consensus price. At that level, ROOT’s share price would be +20.72% above current price.
An evaluation of the daily trading volume of Root, Inc. (NASDAQ:ROOT) indicates that the 3-month average is 2.24 Million. However, this figure has declined over the past 10 days to an average of 1.42 Million.
Currently, records show that 59.44 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 42.95% of outstanding shares, whereas institutions hold 39.78%. The stats also highlight that short interest as of January 28, 2021, stood at 8.59 Million shares, resulting in a short ratio of 3.33 at that time. From this, we can conclude that short interest is 3.42% of the company’s total outstanding shares. It is noteworthy that short shares in January were down slightly from the previous month’s figure, which was 10.03 Million. However, since the stock’s price has seen +13.37% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.