Craig Hallum Issues Positive Forecast for Rush Street Interactive (NYSE:RSI) Stock Price

Rush Street Interactive (NYSE:RSI - Free Report) had its price target boosted by Craig Hallum from $14.00 to $17.00 in a report released on Thursday, Benzinga reports. Craig Hallum currently has a buy rating on the stock.

A number of other research analysts also recently weighed in on RSI. Oppenheimer increased their target price on Rush Street Interactive from $10.00 to $14.00 and gave the company an "outperform" rating in a report on Thursday, August 1st. Wells Fargo & Company raised their price objective on Rush Street Interactive from $11.00 to $13.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. Needham & Company LLC raised their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Jefferies Financial Group raised their price objective on Rush Street Interactive from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Rush Street Interactive presently has an average rating of "Moderate Buy" and an average target price of $12.43.

Rush Street Interactive Price Performance

Shares of Rush Street Interactive stock traded up $0.06 during trading on Thursday, hitting $10.82. 5,263,509 shares of the company's stock traded hands, compared to its average volume of 1,601,131. Rush Street Interactive has a 1 year low of $3.46 and a 1 year high of $11.59. The stock has a market capitalization of $2.44 billion, a P/E ratio of -114.89 and a beta of 1.79. The business has a 50-day simple moving average of $10.22 and a 200-day simple moving average of $9.28.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.06. Rush Street Interactive had a negative return on equity of 12.45% and a negative net margin of 0.84%. The company had revenue of $220.38 million for the quarter, compared to the consensus estimate of $201.37 million. During the same quarter in the prior year, the company earned ($0.08) earnings per share. Rush Street Interactive's revenue was up 33.5% on a year-over-year basis. On average, equities analysts predict that Rush Street Interactive will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, insider Einar Roosileht sold 150,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 809,260 shares in the company, valued at $7,356,173.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Rush Street Interactive news, insider Einar Roosileht sold 150,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 809,260 shares in the company, valued at $7,356,173.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard Todd Schwartz sold 40,498 shares of the firm's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $10.18, for a total value of $412,269.64. Following the transaction, the chief executive officer now owns 1,862,997 shares of the company's stock, valued at $18,965,309.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 548,210 shares of company stock worth $5,179,362 in the last quarter. 56.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rush Street Interactive

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings 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 worth $35,683,000 after purchasing an additional 85,736 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Rush Street Interactive by 47.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company's stock worth $14,425,000 after purchasing an additional 482,872 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Rush Street Interactive by 157.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company's stock worth $13,666,000 after purchasing an additional 872,367 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Rush Street Interactive by 10.9% in the 2nd quarter. Federated Hermes Inc. now owns 1,329,825 shares of the company's stock worth $12,753,000 after purchasing an additional 130,217 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in shares of Rush Street Interactive in the 2nd quarter worth approximately $10,605,000. 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.