Rocky Brands Inc. (RCKY) receives a Neutral rating from B. Riley Securities

CHWY Stock
CHWY Stock

Rocky Brands Inc.’s recent filing unveils that its Director Smith Dwight Eric acquired Company’s shares for reported $19480.0 on Aug 18. In the deal valued at $19.48 per share,1,000 shares were bought. As a result of this transaction, Smith Dwight Eric now holds 4,299 shares worth roughly $ 73942.8.

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Then, Smith Dwight Eric bought 400 shares, generating $7,852 in total proceeds. Upon buying the shares at $19.63, the Director now owns 2,442 shares.

Before that, Robertson Thomas D. bought 1,300 shares. Rocky Brands Inc. shares valued at $24,575 were divested by the COO, CFO & Treasurer at a price of $18.90 per share. As a result of the transaction, Robertson Thomas D. now holds 14,050 shares, worth roughly $0.24 million.

B. Riley Securities initiated its Rocky Brands Inc. [RCKY] rating to a Neutral in a research note published on Friday, March 30, 2023; the price target was $28. PT values the company’s stock at a premium of 38.57 to its Friday closing price.

Price Performance Review of RCKY

On Friday, Rocky Brands Inc. [NASDAQ:RCKY] saw its stock fall -3.21% to $17.20. On the same session, the stock had its day’s lowest price of $16.97, but rose to a high of $17.79. Over the last five days, the stock has lost -6.47%. Rocky Brands Inc. shares have fallen nearly -27.18% since the year began. Nevertheless, the stocks have fallen -34.18% over the past one year. While a 52-week high of $33.09 was reached on 02/02/23, a 52-week low of $17.70 was recorded on 09/01/23. SMA at 50 days reached $20.37, while 200 days put it at $23.80. A total of 52506.0 shares were traded, compared to the trading of 29700.0 shares in the previous session.

Levels Of Support And Resistance For RCKY Stock

The 24-hour chart illustrates a support level at 16.85, which if violated will result in even more drops to 16.50. On the upside, there is a resistance level at 17.67. A further resistance level may holdings at 18.14. The Relative Strength Index (RSI) on the 14-day chart is 30.18, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.74, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.51%. Stochastics %K at 6.24% indicates the stock is a buying.

How much short interest is there in Rocky Brands Inc.?

A steep rise in short interest was recorded in Rocky Brands Inc. stocks on Aug 14, 2023, dropping by 5610.0 shares to a total of 0.27 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.27 million shares. There was a decline of -2.1%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.44% of the overall stock float, the days-to-cover ratio (short ratio) fell to 9.44.

Rocky Brands Inc. [RCKY] – Who Are The Largest Shareholders?

In filings from FIAM LLC, it is revealed that the company now owns 1,086,266 shares, or roughly 14.77% of the outstanding RCKY shares. In other words, the investor’s shares have risen by 51,286 from its previous 13-F filing of 1034980.0. Additionally, Dimensional Fund Advisors LP decreased -0.18% of its stake after which the total value it holdings stand at $11,647,287, while Raymond James & Associates, Inc. reduced -16.85% of its stake to hold $9.96 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 25,841 shares of Rocky Brands Inc., while The Vanguard Group, Inc. bought 11,139 shares. At present, DePrince, Race & Zollo, Inc. is holding 260,468 shares valued at $5.24 million. Royce & Associates LP owned 257,910 shares of the company at the time of its most recent 13F filing, worth $5.19 million.

According to FactSet, Rocky Brands Inc.’s share price will average $22.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 26.62 percent from its previous closing price of $17.77. Analysts expect Rocky Brands Inc. stock to reach the higher price of $25.00, while the lowest price estimate is $20.00. However, 3 analysts have rated RCKY stock as a Hold in their predictions for 2023.


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