Rackspace Technology Inc (NASDAQ: RXT) is -22.00% lower on its value in year-to-date trading and has touched a low of $1.05 and a high of $3.10 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The RXT stock was last observed hovering at around $1.59 in the last trading session, with the day’s loss setting it -0.03%.
Currently trading at $1.56, the stock is -20.46% and -14.58% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.59 million and changing -1.89% at the moment leaves the stock -16.75% off its SMA200. RXT registered -26.42% loss for a year compared to 6-month gain of 1.30%. The firm has a 50-day simple moving average (SMA 50) of $1.21 and a 200-day simple moving average (SMA200) of -$18.85.
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The stock witnessed a -20.41% loss in the last 1 month and extending the period to 3 months gives it a -17.46%, and is -25.71% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 10.38% over the week and 10.16% over the month.
Rackspace Technology Inc (RXT) has around 5800 employees, a market worth around $337.60M and $2.96B in sales. Profit margin for the company is -28.33%. Distance from 52-week low is 48.57% and -49.68% from its 52-week high. The company has generated returns on investments over the last 12 months (-26.85%).
Rackspace Technology Inc quarterly earnings per share for the current quarter are estimated at -$0.12 with sales reaching $684.25M over the same period.The EPS is expected to shrink by -124.29% this year, but quarterly earnings will post -6.00% year-over-year. Quarterly sales are estimated to shrink -9.80% in year-over-year returns.
Rackspace Technology Inc (RXT) Top Institutional Holders
132 institutions hold shares in Rackspace Technology Inc (RXT), with institutional investors hold 95.71% of the company’s shares. The shares outstanding are 217.40M, and float is at 46.61M with Short Float at 11.70%. Institutions hold 91.92% of the Float.
The top institutional shareholder in the company is Apollo Management Holdings, L.P. with over 129.61 million shares valued at $352.54 million. The investor’s holdings represent 60.03% of the RXT Shares outstanding. As of Jun 29, 2023, the second largest holder is Legal & General Group PLC with 10.36 million shares valued at $28.18 million to account for 4.80% of the shares outstanding. The other top investors are Mackenzie Financial Corporation which holds 6.94 million shares representing 3.21% and valued at over $18.88 million, while Blackrock Inc. holds 2.68% of the shares totaling 5.79 million with a market value of $15.75 million.
Rackspace Technology Inc (RXT) Insider Activity
The most recent transaction is an insider sale by Maletira Amar,the company’sChief Executive Officer. SEC filings show that Maletira Amar sold 37,446 shares of the company’s common stock on Feb 20 ’24 at a price of $1.92 per share for a total of $71930.0. Following the sale, the insider now owns 4.64 million shares.
Rackspace Technology Inc disclosed in a document filed with the SEC on Jan 25 ’24 that Lillie Brian (EVP, President Private Cloud) sold a total of 139,701 shares of the company’s common stock. The trade occurred on Jan 25 ’24 and was made at $1.62 per share for $0.23 million. Following the transaction, the insider now directly holds 1.61 million shares of the RXT stock.
Still, SEC filings show that on Jan 25 ’24, Marino Mark A. (Chief Financial Officer) disposed off 12,316 shares at an average price of $1.62 for $19952.0. The insider now directly holds 248,101 shares of Rackspace Technology Inc (RXT).
