Rackspace Technology Inc.’s recent filing unveils that its Director Roberts Anthony C. acquired Company’s shares for reported $49840.0 on Aug 15. In the deal valued at $2.23 per share,22,350 shares were bought. As a result of this transaction, Roberts Anthony C. now holds 139,232 shares worth roughly $ 0.21 million.
Then, Samant Shashank bought 19,933 shares, generating $91,520 in total proceeds. Upon buying the shares at $4.59, the Director now owns 158,507 shares.
Before that, Samant Shashank bought 100,000 shares. Rackspace Technology Inc. shares valued at $454,620 were divested by the Director at a price of $4.55 per share. As a result of the transaction, Samant Shashank now holds 138,574 shares, worth roughly $0.21 million.
Citigroup downgraded its Rackspace Technology Inc. [RXT] rating to a Sell from a a Neutral in a research note published on Monday, July 25, 2023; the price target was increased to $1.50 from $1.25. PT values the company’s stock at a premium of 1.33 to its Monday closing price.
Price Performance Review of RXT
On Monday, Rackspace Technology Inc. [NASDAQ:RXT] saw its stock fall -3.90% to $1.48. On the same session, the stock had its day’s lowest price of $1.44, but rose to a high of $1.56. Over the last five days, the stock has lost -13.95%. Rackspace Technology Inc. shares have fallen nearly -49.83% since the year began. Nevertheless, the stocks have fallen -72.79% over the past one year. While a 52-week high of $6.07 was reached on 02/02/23, a 52-week low of $1.05 was recorded on 05/12/23. SMA at 50 days reached $2.2738, while 200 days put it at $2.2940. A total of 1.54 million shares were traded, compared to the trading of 1.73 million shares in the previous session.
Levels Of Support And Resistance For RXT Stock
The 24-hour chart illustrates a support level at 1.4267, which if violated will result in even more drops to 1.3733. On the upside, there is a resistance level at 1.5467. A further resistance level may holdings at 1.6133. The Relative Strength Index (RSI) on the 14-day chart is 30.72, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.4868, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.72%. Stochastics %K at 4.25% indicates the stock is a buying.
How much short interest is there in Rackspace Technology Inc.?
A steep rise in short interest was recorded in Rackspace Technology Inc. stocks on Aug 30, 2023, dropping by -0.5 million shares to a total of 6.0 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 6.5 million shares. There was a decline of -8.33%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 9.79% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.45.
Rackspace Technology Inc. [RXT] – Who Are The Largest Shareholders?
In filings from Legal & General Investment Manage, it is revealed that the company now owns 10,354,597 shares, or roughly 4.80% of the outstanding RXT shares. In other words, the investor’s shares have risen by 4,496,866 from its previous 13-F filing of 5857731.0. Additionally, Mackenzie Financial Corp. decreased -0.59% of its stake after which the total value it holdings stand at $17,351,140, while The Vanguard Group, Inc. reduced -11.69% of its stake to hold $13.51 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 1,285,228 shares of Rackspace Technology Inc., while Geode Capital Management LLC bought 292,864 shares. At present, Renaissance Technologies LLC is holding 1,537,500 shares valued at $3.84 million. SSgA Funds Management, Inc. owned 1,522,371 shares of the company at the time of its most recent 13F filing, worth $3.81 million.
According to FactSet, Rackspace Technology Inc.’s share price will average $2.79 in the next year, based on opinions of analysts polled by the firm. This is up nearly 62.34 percent from its previous closing price of $1.54. Analysts expect Rackspace Technology Inc. stock to reach the higher price of $5.00, while the lowest price estimate is $1.50. However, 9 analysts have rated RXT stock as a Hold in their predictions for 2023.