Heavy Trading On Rackspace Hosting (RAX) Before Market Open

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Rackspace Hosting ( RAX) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Rackspace Hosting as such a stock due to the following factors:

  • RAX has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $159.0 million.
  • RAX traded 939,109 shares today in the pre-market hours as of 9:05 AM, representing 19.5% of its average daily volume.

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More details on RAX:

Rackspace Hosting, Inc., through its subsidiaries, provides cloud computing services and managing Web-based IT systems for small and medium-sized businesses and large enterprises worldwide. RAX has a PE ratio of 62.1. Currently there are 7 analysts that rate Rackspace Hosting a buy, 2 analysts rate it a sell, and 7 rate it a hold.

The average volume for Rackspace Hosting has been 3.0 million shares per day over the past 30 days. Rackspace Hosting has a market cap of $5.5 billion and is part of the technology sector and computer software & services industry. The stock has a beta of 1.52 and a short float of 9.2% with 2.18 days to cover. Shares are down 0.3% year-to-date as of the close of trading on Monday.

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