Rush Street Interactive (NYSE:RSI) Shares Gap Down – Should You Sell?

Rush Street Interactive, Inc. (NYSE:RSI) shares gapped down before the market opened on Monday . The stock had previously closed at $11.01, but opened at $10.74. Rush Street Interactive shares last traded at $10.59, with a volume of 285,242 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RSI shares. Wells Fargo & Company boosted their target price on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Needham & Company LLC upped their price target on Rush Street Interactive from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Craig Hallum upped their price target on Rush Street Interactive from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Oppenheimer upped their price target on Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Rush Street Interactive presently has an average rating of “Moderate Buy” and a consensus target price of $11.17.

Rush Street Interactive Price Performance

The business has a 50-day simple moving average of $10.00 and a 200 day simple moving average of $9.09. The firm has a market cap of $2.38 billion, a PE ratio of -64.76 and a beta of 1.79.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. The business had revenue of $220.38 million during the quarter, compared to analyst estimates of $201.37 million. Rush Street Interactive had a negative return on equity of 12.45% and a negative net margin of 0.84%. The company’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same period last year, the company earned ($0.08) EPS. On average, equities analysts forecast that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rush Street Interactive news, insider Paul Wierbicki sold 20,437 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $9.53, for a total transaction of $194,764.61. Following the transaction, the insider now directly owns 174,982 shares in the company, valued at $1,667,578.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Rush Street Interactive news, insider Paul Wierbicki sold 20,437 shares of Rush Street Interactive stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $9.53, for a total transaction of $194,764.61. Following the completion of the sale, the insider now owns 174,982 shares of the company’s stock, valued at approximately $1,667,578.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Einar Roosileht sold 150,000 shares of Rush Street Interactive stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total value of $1,363,500.00. Following the completion of the transaction, the insider now owns 809,260 shares of the company’s stock, valued at approximately $7,356,173.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 548,210 shares of company stock worth $5,179,362 in the last ninety days. 56.89% of the stock is owned by company insiders.

Institutional Trading of Rush Street Interactive

Several institutional investors and hedge funds have recently bought and sold shares of RSI. Allspring Global Investments Holdings LLC raised its holdings in Rush Street Interactive by 13,627.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after buying an additional 11,856 shares during the period. North Star Investment Management Corp. raised its holdings in Rush Street Interactive by 303.9% in the 1st quarter. North Star Investment Management Corp. now owns 20,600 shares of the company’s stock valued at $134,000 after buying an additional 15,500 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Rush Street Interactive in the 1st quarter valued at about $148,000. Vanguard Group Inc. raised its holdings in Rush Street Interactive by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock valued at $35,683,000 after buying an additional 85,736 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Rush Street Interactive during the first quarter worth about $1,673,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Mexico, and rest of Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines.