why Rush Street Interactive Inc. [RSI] is a Good Choice for Investors After New Price Target of $23.70


Rush Street Interactive Inc. [NYSE: RSI] jumped around 0.44 points on Thursday, while shares priced at $15.00 at the close of the session, up 3.02%. The company report on January 6, 2022 that BetRivers to Launch Online and Mobile Sportsbook in New York State This Saturday Morning, January 8th.

Builds on Rush Street Interactive’s Deep & Hometown Roots in New York.

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Rush Street Interactive, Inc. (NYSE: RSI) (“RSI”), a leading online sports betting and casino company in the United States, today announced that it has been approved by the New York State Gaming Commission to commence mobile sports wagering operations in New York beginning this Saturday, January 8, 2022, at 9:00am ET. Upon launch, players across the state aged 21 and over can deposit funds and place bets at the award-winning BetRivers sportsbook on all mobile devices, tablets, desktop and laptop computers.

Rush Street Interactive Inc. stock is now -9.09% down from its year-to-date (YTD) trading value. RSI Stock saw the intraday high of $15.1772 and lowest of $14.00 per share. The company’s 52-week high price is 26.55, which means current price is +7.14% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 1.14M shares, RSI reached a trading volume of 3630279 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Rush Street Interactive Inc. [RSI]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RSI shares is $23.70 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RSI stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

ROTH Capital have made an estimate for Rush Street Interactive Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 12, 2021. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Equal Weight. The new note on the price target was released on September 15, 2021, representing the official price target for Rush Street Interactive Inc. stock. Previously, the target price had yet another raise to $21, while Macquarie analysts kept a Outperform rating on RSI stock.

The Average True Range (ATR) for Rush Street Interactive Inc. is set at 1.03, with the Price to Sales ratio for RSI stock in the period of the last 12 months amounting to 7.31. The Price to Book ratio for the last quarter was 9.68, with the Price to Cash per share for the same quarter was set at 1.55.

How has RSI stock performed recently?

Rush Street Interactive Inc. [RSI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.61. With this latest performance, RSI shares dropped by -15.40% in over the last four-week period, additionally plugging by 26.48% over the last 6 months – not to mention a drop of -26.86% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RSI stock in for the last two-week period is set at 36.70, with the RSI for the last a single of trading hit 33.81, and the three-weeks RSI is set at 38.99 for Rush Street Interactive Inc. [RSI]. The present Moving Average for the last 50 days of trading for this stock 18.11, while it was recorded at 15.68 for the last single week of trading, and 15.35 for the last 200 days.

Rush Street Interactive Inc. [RSI]: Deeper insight into the fundamentals

Rush Street Interactive Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.20 and a Current Ratio set at 5.20.

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Insider trade positions for Rush Street Interactive Inc. [RSI]

There are presently around $610 million, or 71.10% of RSI stock, in the hands of institutional investors. The top three institutional holders of RSI stocks are: VANGUARD GROUP INC with ownership of 3,563,320, which is approximately 34.547% of the company’s market cap and around 2.50% of the total institutional ownership; CANYON CAPITAL ADVISORS LLC, holding 3,533,929 shares of the stock with an approximate value of $51.45 million in RSI stocks shares; and BLACKROCK INC., currently with $50.28 million in RSI stock with ownership of nearly -9.221% of the company’s market capitalization.

81 institutional holders increased their position in Rush Street Interactive Inc. [NYSE:RSI] by around 9,396,227 shares. Additionally, 49 investors decreased positions by around 9,332,561 shares, while 15 investors held positions by with 23,187,695 shares. The mentioned changes placed institutional holdings at 41,916,483 shares, according to the latest SEC report filing. RSI stock had 34 new institutional investments in for a total of 3,268,681 shares, while 19 institutional investors sold positions of 2,039,611 shares during the same period.