Rocket Fuel Inc. (NASDAQ:FUEL) was the recipient of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 3,435,413 shares, a decrease of 38.0% from the July 31st total of 5,545,102 shares. Approximately 10.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 851,785 shares, the short-interest ratio is currently 4.0 days.
Several equities research analysts have recently weighed in on FUEL shares. Credit Suisse Group cut Rocket Fuel from an “outperform” rating to a “neutral” rating and upped their price target for the company from $4.50 to $4.75 in a research report on Wednesday, May 10th. Zacks Investment Research upgraded Rocket Fuel from a “sell” rating to a “hold” rating in a research report on Thursday, May 18th. Finally, ValuEngine cut Rocket Fuel from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Rocket Fuel presently has a consensus rating of “Hold” and a consensus target price of $3.32.
Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in shares of Rocket Fuel by 12.6% in the first quarter. Renaissance Technologies LLC now owns 3,353,300 shares of the technology company’s stock worth $17,974,000 after buying an additional 375,300 shares during the last quarter. Morgan Stanley increased its position in shares of Rocket Fuel by 3.2% in the first quarter. Morgan Stanley now owns 221,170 shares of the technology company’s stock worth $1,186,000 after buying an additional 6,916 shares during the last quarter. GMT Capital Corp bought a new position in shares of Rocket Fuel during the first quarter worth approximately $239,000. Geode Capital Management LLC increased its position in shares of Rocket Fuel by 51.4% in the first quarter. Geode Capital Management LLC now owns 229,560 shares of the technology company’s stock worth $1,230,000 after buying an additional 77,919 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Rocket Fuel by 13.5% in the first quarter. Vanguard Group Inc. now owns 1,156,320 shares of the technology company’s stock worth $6,198,000 after buying an additional 137,864 shares during the last quarter. Hedge funds and other institutional investors own 33.58% of the company’s stock.
Rocket Fuel (NASDAQ:FUEL) opened at 2.60 on Friday. Rocket Fuel has a 52-week low of $1.70 and a 52-week high of $5.90. The company’s market capitalization is $122.18 million. The company has a 50 day moving average of $2.63 and a 200 day moving average of $3.35.
Rocket Fuel Company Profile
Rocket Fuel Inc is a technology company, which offers a Programmatic Marketing Platform that is designed for helping marketers and their agencies to connect with consumers through digital media. The Company’s service offerings are organized around platforms, including Data Management Platform (DMP) and Demand Side Platform (DSP), which are used by customers themselves or integrating with other customer relationship management or marketing platforms, and together in various permutations as its Programmatic Marketing Platform.
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