Rackspace Technology Inc [NASDAQ: RXT] traded at a high on Wednesday, posting a 5.94 gain after which it closed the day’ session at $3.03.
The results of the trading session contributed to over 4330242 shares changing hands. Over the past one week, the price volatility of Rackspace Technology Inc stands at 10.16% while the volatility over the past one month is 6.84%.
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The market cap for RXT stock reached $684.88 million, with 217.40 million shares outstanding and 59.23 million shares in the current float. Compared to the average trading volume of 629.80K shares, RXT reached a trading volume of 4330242 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Rackspace Technology Inc [RXT]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RXT shares is $2.73 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RXT stock is a recommendation set at 3.17. 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.
UBS have made an estimate for Rackspace Technology Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 07, 2023. The new note on the price target was released on September 19, 2023, representing the official price target for Rackspace Technology Inc stock. Previously, the target price had yet another raise from $1.25 to $1.50, while Citigroup kept a Sell rating on RXT stock. On October 11, 2022, analysts decreased their price target for RXT shares from 9 to 5.
The Average True Range (ATR) for Rackspace Technology Inc is set at 0.19, with the Price to Sales ratio for RXT stock in the period of the last 12 months amounting to 0.25. Price to Free Cash Flow for RXT in the course of the last twelve months was 4.73 with Quick ratio for the last quarter at 0.84.
How has RXT stock performed recently?
Rackspace Technology Inc [RXT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.65. With this latest performance, RXT shares gained by 7.83% in over the last four-week period, additionally plugging by 40.28% over the last 6 months – not to mention a rise of 133.08% 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 RXT stock in for the last two-week period is set at 67.49, with the RSI for the last a single of trading hit 72.94, and the three-weeks RSI is set at 63.82 for Rackspace Technology Inc [RXT]. The present Moving Average for the last 50 days of trading for this stock 2.54, while it was recorded at 2.86 for the last single week of trading, and 2.19 for the last 200 days.
Rackspace Technology Inc [RXT]: Deeper insight into the fundamentals
Rackspace Technology Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.84 and a Current Ratio set at 0.84.
Insider trade positions for Rackspace Technology Inc [RXT]
There are presently around $87.43%, or 90.03%% of RXT stock, in the hands of institutional investors. The top three institutional holders of RXT stocks are: APOLLO MANAGEMENT HOLDINGS, L.P. with ownership of 129.61 million shares, which is approximately 58.9668%. LEGAL & GENERAL GROUP PLC, holding 7.85 million shares of the stock with an approximate value of $$23.39 million in RXT stocks shares; and LEGAL & GENERAL GROUP PLC, currently with $$20.78 million in RXT stock with ownership which is approximately 3.1722%.
