Root Inc (NASDAQ:ROOT) has a beta value of 2.66 and has seen 1.11 million shares traded in the last trading session. The company, currently valued at $863.30M, closed the last trade at $59.13 per share which meant it gained $6.24 on the day or 11.80% during that session. The ROOT stock price is 9.74% off its 52-week high price of $53.37 and 94.2% above the 52-week low of $3.43. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.83 million shares traded. The 3-month trading volume is 582.97K shares.
Root Inc (NASDAQ:ROOT) trade information
Sporting 11.80% in the green in last session, the stock has traded in the green over the last five days, when the ROOT stock price touched $59.13 or saw a rise of 2.39%. Year-to-date, Root Inc shares have moved 464.22%, while the 5-day performance has seen it change 38.64%. Over the past 30 days, the shares of Root Inc (NASDAQ:ROOT) have changed 548.36%. Short interest in the company has seen 1.24 million shares shorted with days to cover at 1.35.
Root Inc (ROOT) estimates and forecasts
Figures show that Root Inc shares have outperformed across the wider relevant industry. The company’s shares have gained 460.47% over the past 6 months, with this year growth rate of 23.14%, compared to 16.40% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 10.10% and 0.80% for the next quarter. Revenue growth from the last financial year stood is estimated to be 103.20%.
6 analysts offering their estimates for the company have set an average revenue estimate of $200.82 million for the current quarter. 6 have an estimated revenue figure of $218.21 million for the next quarter concluding in Jun 2024.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -15.84% over the past 5 years. Earnings growth for 2024 is a modest 10.70% while over the next 5 years, the company’s earnings are expected to increase by 41.30%.
ROOT Dividends
Root Inc is expected to release its next earnings report between May 01 and May 06 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Root Inc (NASDAQ:ROOT)’s Major holders
Insiders own 14.02% of the company shares, while shares held by institutions stand at 55.85% with a share float percentage of 64.95%. Investors are also buoyed by the number of investors in a company, with Root Inc having a total of 82 institutions that hold shares in the company. The top two institutional holders are Ribbit Capital IV, LP with over 1.64 million shares worth more than $12.91 million. As of Sep 29, 2022, Ribbit Capital IV, LP held 17.24% of shares outstanding.
The other major institutional holder is Ribbit Capital GP IV, Ltd., with the holding of over 1.64 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $14.65 million and represent 17.24% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. As of Jun 29, 2023, the former fund manager holds about 2.85% shares in the company for having 0.27 million shares of worth $2.42 million while later fund manager owns 94925.0 shares of worth $0.85 million as of Jun 29, 2023, which makes it owner of about 1.00% of company’s outstanding stock.
