Rite Aid Corporation [RAD] Stock trading around $3.31 per share: What’s Next?

Rite Aid Corporation [NYSE: RAD] gained 1.22% or 0.04 points to close at $3.31 with a heavy trading volume of 2469903 shares. The company report on December 21, 2022 that Rite Aid Corporation Reports Fiscal 2023 Third Quarter Results.

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Strong Elixir earnings contribute to results.

Revenues of $6.1 billion, Compared to Prior Year Revenues of $6.2 billion.

It opened the trading session at $3.30, the shares rose to $3.48 and dropped to $3.25, the range by which the price of stock traded the whole day. The daily chart for RAD points out that the company has recorded -50.89% loss over the past six months. However, it is still -3.76% lower than its most recent low trading price.

If we look at the average trading volume of 2.77M shares, RAD reached to a volume of 2469903 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Rite Aid Corporation [RAD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RAD shares is $3.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RAD stock is a recommendation set at 4.00. 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.

Deutsche Bank have made an estimate for Rite Aid Corporation shares, keeping their opinion on the stock as Sell, with their previous recommendation back on April 07, 2022. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $21 to $12. The new note on the price target was released on June 25, 2021, representing the official price target for Rite Aid Corporation stock. Previously, the target price had yet another raise from $17 to $27, while Deutsche Bank kept a Hold rating on RAD stock.

The Average True Range (ATR) for Rite Aid Corporation is set at 0.34, with the Price to Sales ratio for RAD stock in the period of the last 12 months amounting to 0.01.

Trading performance analysis for RAD stock

Rite Aid Corporation [RAD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.32. With this latest performance, RAD shares dropped by -35.85% in over the last four-week period, additionally sinking by -50.89% over the last 6 months – not to mention a drop of -77.38% 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 RAD stock in for the last two-week period is set at 29.72, with the RSI for the last a single of trading hit 25.11, and the three-weeks RSI is set at 33.99 for Rite Aid Corporation [RAD]. The present Moving Average for the last 50 days of trading for this stock 4.80, while it was recorded at 3.34 for the last single week of trading, and 6.59 for the last 200 days.

Rite Aid Corporation [RAD]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Rite Aid Corporation [RAD] shares currently have an operating margin of +0.69 and a Gross Margin at +19.83. Rite Aid Corporation’s Net Margin is presently recorded at -2.19.

Return on Equity for this stock declined to -150.79, with Return on Assets sitting at -5.38.

Rite Aid Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.30.

Rite Aid Corporation [RAD]: An earnings per share (EPS) analysis

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 RAD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Rite Aid Corporation go to -3.69%.

An analysis of insider ownership at Rite Aid Corporation [RAD]

There are presently around $98 million, or 52.30% of RAD stock, in the hands of institutional investors. The top three institutional holders of RAD stocks are: BLACKROCK INC. with ownership of 4,138,884, which is approximately -10.112% of the company’s market cap and around 3.60% of the total institutional ownership; VANGUARD GROUP INC, holding 4,031,523 shares of the stock with an approximate value of $13.34 million in RAD stocks shares; and INVESCO LTD., currently with $9.34 million in RAD stock with ownership of nearly 0.066% of the company’s market capitalization.

Positions in Rite Aid Corporation stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 69 institutional holders increased their position in Rite Aid Corporation [NYSE:RAD] by around 3,348,269 shares. Additionally, 83 investors decreased positions by around 7,346,466 shares, while 45 investors held positions by with 18,766,514 shares. The mentioned changes placed institutional holdings at 29,461,249 shares, according to the latest SEC report filing. RAD stock had 16 new institutional investments in for a total of 1,164,682 shares, while 28 institutional investors sold positions of 1,790,085 shares during the same period.


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