Large Inflow of Money Detected in Rite Aid Corporation

Rite Aid Corporation (RAD) : On Wednesday, The money flowed into the Rite Aid Corporation (RAD) stock with an uptick to downtick ratio was recorded at 1.35. Transactions worth $16.44 million were done on upticks, confirming the buying interest in the stock. The outflow of money on downticks stood at $12.15 million. The total money flow into the stock was $4.29 million. The block trades reveal a bullish bias with an up-down ratio of 1.9. The investors are using every small weakness in the stock to accumulate it, as can be seen in the $6.78 million of block transactions on upticks. The value of block trades on downticks was $3.56 million, indicating lower selling interest. The total money flow in block trades was $3.22 million. In terms of price action, Rite Aid Corporation (RAD) traded down $0.16 during the session at $6.92. Compared to the previous days closing, the stock was down only by -2.19%. For the week, the stock is -3.82%, over previous weeks closing.


Also, Brokerage firm Deutsche Bank downgrades its rating on Rite Aid Corporation (NYSE:RAD). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on April 8, 2016.

Rite Aid Corporation (NYSE:RAD): The stock opened at $7.09 on Wednesday but the bulls could not build on the opening and the stock topped out at $7.09 for the day. The stock traded down to $6.89 during the day, due to lack of any buying support eventually closed down at $6.89 with a loss of -2.55% for the day. The stock had closed at $7.07 on the previous day. The total traded volume was 17,123,186 shares.

The stock has recorded a 20-day Moving Average of 5.98% and the 50-Day Moving Average is 9.48%. In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (SVP) of Rite Aid Corp, Donley Douglas E had sold 34,106 shares worth of $265,345 in a transaction dated June 15, 2016. In this transaction, 34,106 shares were sold at $7.78 per share.

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.

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