During the last session, Root Inc (NASDAQ:ROOT)’s traded shares were 1.07 million, with the beta value of the company hitting 2.79. At the end of the trading day, the stock’s price was $82.90, reflecting an intraday gain of 16.88% or $11.97. The 52-week high for the ROOT share is $73.76, that puts it up 11.03 from that peak though still a striking 95.62% gain since the share price plummeted to a 52-week low of $3.63. The company’s market capitalization is $1.21B, and the average intraday trading volume over the past 10 days was 0.42 million shares, and the average trade volume was 692.05K shares over the past three months.
Root Inc (NASDAQ:ROOT) trade information
Root Inc (ROOT) registered a 16.88% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 16.88% in intraday trading to $82.90, hitting a weekly high. The stock’s 5-day price performance is 35.72%, and it has moved by 87.90% in 30 days. Based on these gigs, the overall price performance for the year is 1762.92%. The short interest in Root Inc (NASDAQ:ROOT) is 1.41 million shares and it means that shorts have 0.92 day(s) to cover.
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 up 833.56% during the last six months, with a year-to-date growth rate more than the industry average at 23.14% against 17.40. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 10.10% this quarter and then jump 0.80% in the quarter after that. In the rating firms’ projections, revenue will increase 103.20% compared to the previous financial year.
Revenue for the current quarter is expected to be $200.82 million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $218.21 million by the end of Jun 2024.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -15.84%. While earnings are projected to return 10.70% in 2024, the next five years will return 41.30% per annum.
ROOT Dividends
Root Inc is due to release its next quarterly earnings between May 01 and May 06. 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 14.02% of total outstanding shares while institutional holders control 53.99%, with the float percentage being 62.80%. Ribbit Capital IV, LP is the largest shareholder of the company, while 82 institutions own stock in it. As of Sep 29, 2022, the company held over 1.64 million shares (or 17.24% of all shares), a total value of $12.91 million in shares.
The next largest institutional holding, with 1.64 million shares, is of Ribbit Capital GP IV, Ltd.’s that is approximately 17.24% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $14.65 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 Extended Market Index Fund. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 0.27 million shares. This amounts to just over 2.85 percent of the company’s overall shares, with a $2.42 million market value. The same data shows that the other fund manager holds slightly less at 94925.0, or about 1.00% of the stock, which is worth about $0.85 million.
