During the last session, Root Inc. (NASDAQ:ROOT)’s traded shares were 4.46 million. At the end of the trading day, the stock’s price was $1.23, reflecting an intraday gain of 1.65% or $0.02. The 52-week high for the ROOT share is $14.70, that puts it down -1095.12 from that peak though still a striking 4.07% gain since the share price plummeted to a 52-week low of $1.18. The company’s market capitalization is $328.23M, and the average intraday trading volume over the past 10 days was 3.6 million shares, and the average trade volume was 3.49 million shares over the past three months.
Root Inc. (ROOT) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.90. ROOT has a Sell rating from 1 analyst(s) out of 12 analysts who have looked at this stock. 9 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.48.
Root Inc. (NASDAQ:ROOT) trade information
Root Inc. (ROOT) registered a 1.65% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 1.65% in intraday trading to $1.23 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -28.90%, and it has moved by -32.04% in 30 days. Based on these gigs, the overall price performance for the year is -86.32%. The short interest in Root Inc. (NASDAQ:ROOT) is 10.92 million shares and it means that shorts have 2.82 day(s) to cover.
The consensus price target of analysts on Wall Street is $3.73, which implies an increase of 67.02% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.50 and $13.00 respectively. As a result, ROOT is trading at a discount of -956.91% off the target high and -21.95% off the low.
Root Inc. (ROOT) estimates and forecasts
Statistics show that Root Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Root Inc. (ROOT) shares have gone down -73.66% during the last six months, with a year-to-date growth rate more than the industry average at 34.60% against 5.40. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 33.30% this quarter and then jump 5.00% in the quarter after that. In the rating firms’ projections, revenue will decrease -49.30% compared to the previous financial year.
Revenue for the current quarter is expected to be $59.09 million as predicted by 6 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $46.38 million by the end of Mar 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $145.7 million and $68.6 million respectively. In this case, analysts expect current quarter sales to shrink by -59.40% and then drop by -32.40% in the coming quarter.
While earnings are projected to return -45.00% in 2022, the next five years will return 33.30% per annum.
Root Inc. is due to release its next quarterly earnings between February 23 and February 28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Root Inc. (NASDAQ:ROOT)’s Major holders
Root Inc. insiders own 34.90% of total outstanding shares while institutional holders control 67.41%, with the float percentage being 103.55%. Ribbit Capital Gp Iv, Ltd. is the largest shareholder of the company, while 131 institutions own stock in it. As of Dec 30, 2021, the company held over 29.49 million shares (or 19.09% of all shares), a total value of $91.41 million in shares.
The next largest institutional holding, with 9.38 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 6.07% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $29.08 million.
Also, the Mutual Funds coming in first place with the largest holdings of Root Inc. (ROOT) shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. Data provided on Dec 30, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 3.21 million shares. This amounts to just over 2.08 percent of the company’s overall shares, with a $9.94 million market value. The same data shows that the other fund manager holds slightly less at 2.82 million, or about 1.82% of the stock, which is worth about $8.73 million.