Redbox Entertainment Inc. (NASDAQ:RDBX – Get Rating) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 3,520,000 shares, a growth of 39.7% from the April 30th total of 2,520,000 shares. Based on an average trading volume of 12,870,000 shares, the short-interest ratio is currently 0.3 days. Approximately 39.9% of the shares of the company are sold short.
Several research firms have weighed in on RDBX. BTIG Research downgraded shares of Redbox Entertainment from a “buy” rating to a “neutral” rating in a research report on Monday, April 18th. Wedbush downgraded shares of Redbox Entertainment from an “outperform” rating to a “neutral” rating in a research report on Wednesday, May 11th. Canaccord Genuity Group decreased their price objective on shares of Redbox Entertainment from $16.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, April 20th. Zacks Investment Research upgraded shares of Redbox Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Canaccord Genuity Group decreased their price objective on shares of Redbox Entertainment from $16.00 to $3.00 in a research report on Wednesday, April 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of 9.57.
Hedge funds have recently added to or reduced their stakes in the stock. National Asset Management Inc. purchased a new position in shares of Redbox Entertainment during the 1st quarter worth about $30,000. Goldman Sachs Group Inc. purchased a new position in shares of Redbox Entertainment during the 1st quarter worth about $36,000. Jane Street Group LLC bought a new stake in Redbox Entertainment during the 1st quarter valued at about $52,000. Squarepoint Ops LLC bought a new stake in Redbox Entertainment during the 4th quarter valued at about $104,000. Finally, State Street Corp bought a new stake in Redbox Entertainment during the 1st quarter valued at about $115,000.
Shares of NASDAQ:RDBX traded up 0.16 on Monday, reaching 7.71. The company’s stock had a trading volume of 378,406 shares, compared to its average volume of 9,664,858. Redbox Entertainment has a 52-week low of 1.61 and a 52-week high of 27.22. The company has a 50-day simple moving average of 3.78 and a 200 day simple moving average of 5.38.
Redbox Entertainment Company Profile (Get Rating)
Redbox Entertainment Inc operates a network of self-service kiosks in the United States. It operates a network of approximately 38,000 self-service kiosks, where consumers could rent or purchase new-release DVDs and Blu-ray Discs. The company provides installation, merchandising, and break-fix services to other kiosk businesses.
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