A company insider recently bought 100,000 shares of Root Inc. [ROOT]. Should You Buy?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Root Inc. shares valued at $151,810 were purchased by Rosenthal Daniel H on Mar 14. At $1.52 per share, Rosenthal Daniel H acquired 100,000 shares. The insider’s holdings grew to 1,062,509 shares worth approximately $1.4 million following the completion of this transaction.


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Also, Hilsheimer Lawrence A. purchased 28,735 shares, netting a total of over 50,418 in proceeds. Following the buying of shares at $1.75 each, the insider now holds 70,082 shares.

Before that, Shah Hemal had sold 41,666 shares from its account. In a trade valued at $213,330, the Chief Product Officer traded Root Inc. shares for $5.12 each. Upon closing the transaction, the insider’s holdings decreased to 41,666 shares, worth approximately $0.62 million.

As published in their initiating research note from Jefferies on November 19, 2021, Root Inc. [ROOT] has been a Hold and the price target has been revised to $5.50. This represents a 76.0% premium over Thursday’s closing price. Analysts at Barclays downgraded the stock from ‘”an Equal weight”‘ to ‘”an Underweight”‘ outlook in a report released in mid November. As of August 17, 2021, Wolfe Research has initiated its “Peer perform” rating for ROOT. Earlier on August 13, 2021, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for ROOT stock which previously was a “an Overweight”.

Analyzing ROOT’s Price Performance

On Thursday, Root Inc. [NASDAQ: ROOT] rose 3.94% to $1.32. The stock’s lowest price that day was $1.26, but it reached a high of $1.335 in the same session. During the last five days, there has been a surge of approximately 22.22%. Over the course of the year, Root Inc. shares have dropped approximately -57.42%. Shares of the company reached a 52-week high of $3.3900 on 01/03/22 and a 52-week low of $0.9401 on 07/13/22. A 50-day SMA is recorded $1.2098, while a 200-day SMA reached $2.3064. Nevertheless, trading volume fell to 1.73 million shares from 3.05 million shares the previous day.

Support And Resistance Levels for Root Inc. (ROOT)

According to the 24-hour chart, there is a support level at 1.2750, which, if violated, would cause prices to drop to 1.2300. In the upper region, resistance lies at 1.3500. The next price resistance is at 1.3800. RSI (Relative Strength Index) is 63.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.1583, which suggests the price will decrease in the coming days. Percent R is at 4.01%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Root Inc. subject to short interest?

Stocks of Root Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 3.34 million shares to 15.9 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 12.56 million shares. A jump of 21.01% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.5 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.5.

Which companies own the most shares of Root Inc. (ROOT)?

According to Schusterman Interests LLC filings, the company currently owns 8,750,000 shares, which is about 5.65% of the total ROOT shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 8750000.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $8,039,234. Millennium Management LLC acquire a 28.20% interest valued at $6.12 million while Renaissance Technologies LLC sold a -456,600 stake. A total of 0 shares of Root Inc. were sold by HHLR Advisors Ltd. during the quarter, and -2,026,038 were sold by Credit Suisse International. In its current portfolio, BlackRock Fund Advisors holds 1,471,513 shares valued at $1.75 million.

In terms of Root Inc. share price expectations, FactSet research, analysts set an average price target of $2.65 in the next 12 months, up nearly 60.63% from the previous closing price of $1.27. Analysts anticipate Root Inc. stock to reach $6.00 by 2022, with the lowest price target being $1.25. In spite of this, 11 analysts ranked Root Inc. stock as a Hold at the end of 2022. On August 13, 2021, Truist assigned a price target of “a Hold” to the stock and downgraded coverage with a $6.

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