Rackspace Technology Inc (NASDAQ: RXT) is 29.00% higher on its value in year-to-date trading and has touched a low of $1.34 and a high of $3.41 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The RXT stock was last observed hovering at around $2.61 in the last trading session, with the day’s loss setting it -0.03%.
Currently trading at $2.58, the stock is -1.63% and 0.05% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.32 million and changing -1.15% at the moment leaves the stock 14.67% off its SMA200. RXT registered 89.71% gain for a year compared to 6-month gain of 16.74%. The firm has a 50-day simple moving average (SMA 50) of $2.5759 and a 200-day simple moving average (SMA200) of $2.246675.
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The stock witnessed a 0.78% loss in the last 1 month and extending the period to 3 months gives it a 22.27%, and is -2.27% 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 6.12% over the week and 8.54% over the month.
Rackspace Technology Inc (RXT) has around 5800 employees, a market worth around $587.12M and $2.77B in sales. Profit margin for the company is -27.94%. Distance from 52-week low is 92.54% and -24.31% from its 52-week high. The company has generated returns on investments over the last 12 months (-34.37%).
The EPS is expected to shrink by -83.47% this year
136.0 institutions hold shares in Rackspace Technology Inc (RXT), with institutional investors hold 87.02% of the company’s shares. The shares outstanding are 227.60M, and float is at 59.64M with Short Float at 7.56%. Institutions hold 84.57% of the Float.
The top institutional shareholder in the company is APOLLO MANAGEMENT HOLDINGS, L.P. with over 129.61 million shares valued at $386.23 million. The investor’s holdings represent 58.9668 of the RXT Shares outstanding. As of 2024-06-30, the second largest holder is LEGAL & GENERAL GROUP PLC with 7.85 million shares valued at $23.39 million to account for 3.5713 of the shares outstanding. The other top investors are MACKENZIE FINANCIAL CORP which holds 6.97 million shares representing 3.1722 and valued at over $20.78 million, while BLACKROCK INC. holds 2.1737 of the shares totaling 4.78 million with a market value of $14.24 million.
Rackspace Technology Inc (RXT) Insider Activity
The most recent transaction is an insider sale by Koushik Srini, the company’s President, Technology. SEC filings show that Koushik Srini sold 8,028 shares of the company’s common stock on Dec 03 ’24 at a price of $2.54 per share for a total of $20391.0. Following the sale, the insider now owns 1.02 million shares.
Rackspace Technology Inc disclosed in a document filed with the SEC on Dec 03 ’24 that SINHA DHARMENDRA KUMAR (EVP, President, Public Cloud) sold a total of 23,357 shares of the company’s common stock. The trade occurred on Dec 03 ’24 and was made at $2.54 per share for $59327.0. Following the transaction, the insider now directly holds 2.31 million shares of the RXT stock.
Still, SEC filings show that on Dec 03 ’24, Lillie Brian (EVP, President Private Cloud) disposed off 20,165 shares at an average price of $2.54 for $51219.0. The insider now directly holds 1,987,623 shares of Rackspace Technology Inc (RXT).
