Rackspace Technology Inc (NASDAQ: RXT) is 11.76% higher on its value in year-to-date trading and has touched a low of $1.45 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 $2.39 in the last trading session, with the day’s gains setting it 0.08%.
Currently trading at $2.47, the stock is 7.52% and -0.04% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.9 million and changing 3.35% at the moment leaves the stock 6.21% off its SMA200. RXT registered 50.61% gain for a year compared to 6-month loss of -3.14%. The firm has a 50-day simple moving average (SMA 50) of $2.471 and a 200-day simple moving average (SMA200) of $2.325475.
The stock witnessed a 0.82% gain in the last 1 month and extending the period to 3 months gives it a -12.10%, and is -4.63% 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 7.40% over the week and 6.73% over the month.
Rackspace Technology Inc (RXT) has around 5800 employees, a market worth around $562.10M and $2.77B in sales. Profit margin for the company is -27.94%. Distance from 52-week low is 70.34% and -27.54% from its 52-week high. The company has generated returns on investments over the last 12 months (-34.37%).
with sales reaching $674.85M over the same period.The EPS is expected to shrink by -83.47% this year, but quarterly earnings will post -7.80% year-over-year. Quarterly sales are estimated to shrink -6.23% in year-over-year returns.
Rackspace Technology Inc (RXT) Top Institutional Holders
135.0 institutions hold shares in Rackspace Technology Inc (RXT), with institutional investors hold 86.42% of the company’s shares. The shares outstanding are 227.60M, and float is at 61.02M with Short Float at 7.96%. Institutions hold 84.56% 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 purchase by Roberts Anthony C., the company’s Director. SEC filings show that Roberts Anthony C. bought 19,455 shares of the company’s common stock on Dec 06 ’24 at a price of $2.60 per share for a total of $50583.0. Following the purchase, the insider now owns 0.16 million shares.
Rackspace Technology Inc disclosed in a document filed with the SEC on Dec 03 ’24 that Koushik Srini (President, Technology) sold a total of 8,028 shares of the company’s common stock. The trade occurred on Dec 03 ’24 and was made at $2.54 per share for $20391.0. Following the transaction, the insider now directly holds 1.02 million shares of the RXT stock.
Still, SEC filings show that on Dec 03 ’24, SINHA DHARMENDRA KUMAR (EVP, President, Public Cloud) disposed off 23,357 shares at an average price of $2.54 for $59327.0. The insider now directly holds 2,311,309 shares of Rackspace Technology Inc (RXT).
