Root Inc. [ROOT] Stock trading around $1.21 per share: What’s Next?

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Root Inc. [NASDAQ: ROOT] stock went on a downward path that fall over -10.37% on Wednesday, amounting to a one-week price decrease of less than -36.32%. The company report on April 27, 2022 that Root, Inc. Announces 2022 First Quarter Results.

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Root, Inc. (NASDAQ: ROOT), the parent company of Root Insurance Company, today announced financial results for the quarter. Root’s first quarter results and management commentary can be found by accessing the shareholder letter posted to the company’s investor relations website at ir.joinroot.com.

Root will host a conference call and earnings webcast to discuss the results tomorrow, Thursday, April 28, at 8:00 a.m. Eastern Time, and to provide an update on company operations. To listen to the live audio webcast, please visit the News & Events section of Root’s Investor Relations website at ir.joinroot.com. A replay will be available on the same website following the call.

Over the last 12 months, ROOT stock dropped by -86.64%. The one-year Root Inc. stock forecast points to a potential upside of 67.56. The average equity rating for ROOT stock is currently 2.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $322.89 million, with 251.70 million shares outstanding and 136.94 million shares in the current float. Compared to the average trading volume of 3.46M shares, ROOT stock reached a trading volume of 3784524 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Root Inc. [ROOT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ROOT shares is $3.73 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ROOT stock is a recommendation set at 2.90. 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.

Jefferies have made an estimate for Root Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 19, 2021. While these analysts kept the previous recommendation, Barclays dropped their target price from $5 to $3. The new note on the price target was released on November 15, 2021, representing the official price target for Root Inc. stock. Previously, the target price had yet another raise to $5, while Wolfe Research analysts kept a Peer Perform rating on ROOT stock. On August 13, 2021, analysts decreased their price target for ROOT shares from 16 to 7.

The Average True Range (ATR) for Root Inc. is set at 0.18, with the Price to Sales ratio for ROOT stock in the period of the last 12 months amounting to 0.89. The Price to Book ratio for the last quarter was 0.65, with the Price to Cash per share for the same quarter was set at 3.50.

ROOT Stock Performance Analysis:

Root Inc. [ROOT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -36.32. With this latest performance, ROOT shares dropped by -32.78% in over the last four-week period, additionally sinking by -75.56% over the last 6 months – not to mention a drop of -86.64% 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 ROOT stock in for the last two-week period is set at 30.10, with the RSI for the last a single of trading hit 22.92, and the three-weeks RSI is set at 34.70 for Root Inc. [ROOT]. The present Moving Average for the last 50 days of trading for this stock 1.7755, while it was recorded at 1.4820 for the last single week of trading, and 3.6922 for the last 200 days.

ROOT Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ROOT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Root Inc. go to 33.30%.

Root Inc. [ROOT] Insider Position Details

There are presently around $134 million, or 67.50% of ROOT stock, in the hands of institutional investors. The top three institutional holders of ROOT stocks are: RIBBIT CAPITAL GP IV, LTD. with ownership of 29,487,539, which is approximately New of the company’s market cap and around 5.20% of the total institutional ownership; VANGUARD GROUP INC, holding 9,380,816 shares of the stock with an approximate value of $12.66 million in ROOT stocks shares; and SILVER LAKE GROUP, L.L.C., currently with $12.5 million in ROOT stock with ownership of nearly 0% of the company’s market capitalization.

72 institutional holders increased their position in Root Inc. [NASDAQ:ROOT] by around 62,570,612 shares. Additionally, 43 investors decreased positions by around 21,198,210 shares, while 22 investors held positions by with 15,137,253 shares. The mentioned changes placed institutional holdings at 98,906,075 shares, according to the latest SEC report filing. ROOT stock had 42 new institutional investments in for a total of 52,550,557 shares, while 23 institutional investors sold positions of 8,505,278 shares during the same period.