Root Inc (NASDAQ:ROOT) shares, rose in value, with the stock price up by 7.86% to the previous day’s close as strong demand from buyers drove the stock to $142.75.
Actively observing the price movement in the last trading, the stock closed the session at $132.35. The PE ratio was 91.20 over 12-month period. Referring to stock’s 52-week performance, its high was $142.72, and the low was $34.04. On the whole, ROOT has fluctuated by 34.42% over the past month.
With the market capitalization of Root Inc currently standing at about $2.17 billion, investors are eagerly awaiting this quarter’s results, scheduled for in April.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 1.24B, with a low estimate of 294.3M and a high estimate of 312.4M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 301.9M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that ROOT’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of ROOT currently trading nearly 20.90% and 48.10% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 67.30, while the 7-day volatility ratio is showing 16.55% which for the 30-day chart, stands at 10.81%. Furthermore, Root Inc (ROOT)’s beta value is 2.48, and its average true range (ATR) is 13.06.
A comparison of Root Inc (ROOT) with its peers suggests the former has fared considerably weaker in the market. ROOT showed an intraday change of 7.86% in last session, and over the past year, it grew by 265.00%%. Additionally, there is a loss of -0.47%% for Progressive Corp. (PGR) in last trading while the stock has seen an overall depriciation of 43.80%% over the past year.
Data on historical trading for Root Inc (NASDAQ:ROOT) indicates that the trading volumes over the past 3 months, they’ve averaged 454.98K. According to company’s latest data on outstanding shares, there are 11.10 million shares outstanding.
Nearly 49.28% of Root Inc’s shares belong to company insiders and institutional investors own 32.85% of the company’s shares. The stock has risen by 96.65% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ROOT stock heading into the next quarter.
