Rush Street Interactive (NYSE:RSI) Shares Gap Down - Here's Why

Shares of Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) 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 brokerages have commented on RSI. Craig Hallum upped their price objective on shares of Rush Street Interactive from $11.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Wells Fargo & Company upped their target price on Rush Street Interactive from $11.00 to $13.00 and gave the stock an "overweight" rating in a report on Thursday, August 1st. Oppenheimer raised 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. Finally, Needham & Company LLC upped their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $11.17.

Rush Street Interactive Stock Down 2.6 %

The firm has a market capitalization of $2.41 billion, a P/E ratio of -63.09 and a beta of 1.79. The company has a fifty day simple moving average of $10.04 and a 200 day simple moving average of $9.12.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.06. The company 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%. Rush Street Interactive's revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) EPS. As a group, equities analysts expect that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Activity at Rush Street Interactive

In related news, insider Einar Roosileht sold 150,000 shares of the company'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 value of $1,363,500.00. Following the transaction, the insider now directly owns 809,260 shares of the company's stock, valued at approximately $7,356,173.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Paul Wierbicki sold 20,437 shares of Rush Street Interactive stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $9.53, for a total value of $194,764.61. Following the completion of the sale, the insider now directly owns 174,982 shares in the company, valued at approximately $1,667,578.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Einar Roosileht sold 150,000 shares of the business's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $9.09, for a total value of $1,363,500.00. Following the completion of the transaction, the insider now directly owns 809,260 shares of the company's stock, valued at approximately $7,356,173.40. This trade 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 valued at $5,179,362 over the last 90 days. Corporate insiders own 56.89% of the company's stock.

Institutional Trading of Rush Street Interactive

A number of institutional investors have recently made changes to their positions in RSI. Precision Wealth Strategies LLC bought a new position in Rush Street Interactive during the third quarter valued at approximately $349,000. OmniStar Financial Group Inc. raised its stake in Rush Street Interactive by 581.2% during the 3rd quarter. OmniStar Financial Group Inc. now owns 80,862 shares of the company's stock valued at $877,000 after buying an additional 68,992 shares during the last quarter. nVerses Capital LLC purchased a new stake in Rush Street Interactive during the third quarter valued at $148,000. Creative Planning bought a new position in Rush Street Interactive in the third quarter valued at about $180,000. Finally, CWM LLC boosted its position in Rush Street Interactive by 425.6% in the third quarter. CWM LLC now owns 9,209 shares of the company's stock worth $100,000 after purchasing an additional 7,457 shares during the last quarter. Hedge funds and other institutional investors own 24.78% of the company's stock.

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.