HOOD investors were likely spooked this afternoon by Barrons's report: "U.S. Moves to Seize Robinhood Shares and Silvergate Accounts Tied to FTX: Report ..." For more coverage, read the full article here. On the back of this news, Robinhood Markets sank -2.6% to a price of $8.14. Are the markets overreacting?
Robinhood Markets, Inc. operates financial services platform in the United States. The company belongs to the Technology sector, which has an average price to earnings (P/E) ratio of 26.5 and an average price to book (P/B) ratio of 5.57. In contrast, Robinhood Markets has a trailing 12 month P/E ratio of -2.0 and a P/B ratio of 1.0.
Robinhood Markets has moved -46.3% over the last year compared to -18.0% for the S&P 500 -- a difference of -28.4%. Robinhood Markets has a 52 week high of $17.21 and a 52 week low of $6.81. At today's price of $8.14 per share, Robinhood Markets is -33.98% away from its target price of $12.33, and on average, analysts give the stock a rating of hold. 7.2% of the company's shares are linked to short positions, and 67.8% of the shares are owned by institutional investors.