Rite Aid Corporation (RAD) : The highest level Rite Aid Corporation (RAD) is projected to reach is $10 for the short term and the lowest estimate is at $9. The consolidated price target from 5 rating analysts who initiate coverage on the stock is $9.2 and the possibility the share price can swing is $0.45.
Rite Aid Corporation (RAD) has witnessed a drop of 10.3% or 4,108,675 shares in its short figure. The short interest diminution took it from 39,980,081 on June 15,2016 to 35,871,406 on June 30,2016. In terms of floated shares, the short interest was calculated to be 3.5%. The days to cover are 2 given that the daily volume averaged 16,200,527 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Equity Analysts at the Deutsche Bank downgrades the rating on Rite Aid Corporation (NYSE:RAD). The brokerage firm has issued a Hold rating on the shares. The shares were previously rated Buy. The rating by the firm was issued on April 8, 2016.
Rite Aid Corporation (NYSE:RAD): stock turned positive on Thursday. Though the stock opened at $6.91, the bulls momentum made the stock top out at $7.1 level for the day. The stock recorded a low of $6.835 and closed the trading day at $7.02, in the green by 2.48%. The total traded volume for the day was 29,283,203. The stock had closed at $6.85 in the previous days trading.
Rite Aid Corporation is a retail drugstore chain. The Company sells prescription drugs and a range of other merchandise, which are referred to as front-end products. The Companys drugstores primary business is pharmacy services. It operates approximately 4,570 stores in 31 states across the country and in the District of Columbia. Its front-end products include over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise and various other every day and convenience products. The Company offers a range of products through its portfolio of private brands. Its classes of products include prescription drugs, over-the-counter medications and personal care, health and beauty aids, and general merchandise and other. It sells private brand and co-branded products. It operates under The Rite Aid name.