Market sentiment towards Roku (NYSE: ROKU) has shifted as of March 12, 2024, with a noticeable decrease in short interest. Approximately 9.43 million shares have been sold short, representing 8.33% of all regular shares available for trading. On average, traders would need about 1.52 days to cover their short positions.
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Short interest plays a crucial role in reflecting market sentiment. An increase in short interest may indicate bearishness, while a decrease could signal bullishness among traders.
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One common method used to evaluate a company’s performance is through peer comparison, which involves comparing it to similar peers in terms of industry, size, and financial structure. Unfortunately, specific peer comparison data for Roku is currently unavailable due to restrictions on provided links.
ROKU Stock Shows Slight Price Increase Near 52-Week Low on March 12, 2024
On March 12, 2024, ROKU stock experienced a slight increase in price momentum, trading near the bottom of its 52-week range and below its 200-day simple moving average. The stock opened at $64.25, $0.16 lower than its previous close, but saw a $0.02 increase since the market last closed, representing a 0.03% rise.
ROKU Stock Performance Analysis: Revenue Up, Net Income Down on March 12, 2024
On March 12, 2024, ROKU stock showed mixed performances based on the latest financial data released by the company. ROKU reported a total revenue of $3.48 billion for the past year, which represents an 11.45% increase compared to the previous year. The total revenue for the last quarter was $984.42 million, showing a 7.94% increase since the previous quarter.
However, despite the increase in revenue, ROKU reported a net income of -$709.56 million for the past year, which is a significant decrease of 42.48% compared to the previous year. The net income for the last quarter was -$78.29 million, showing no change from the previous quarter.
Earnings per share (EPS) for ROKU were reported at -$5.01 for the past year, which is a decrease of 38.55% compared to the previous year. The EPS for the last quarter was reported at -$0.55, showing no change from the previous quarter.
Overall, ROKU stock showed mixed performances on March 12, 2024, with an increase in total revenue but a decrease in net income and earnings per share. Investors will need to closely monitor the company’s financial performance and market trends to make informed decisions about their investments in ROKU stock.
