Rackspace Hosting (RAX) Is Today's Pre-Market Mover With Heavy Volume Stock

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.

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 $61.4 million.
  • RAX traded 137,891 shares today in the pre-market hours as of 8:13 AM, representing 10.1% of its average daily volume.

EXCLUSIVE OFFER: Get the inside scoop on opportunities in RAX with the Ticky from Trade-Ideas. See the FREE profile for RAX NOW at Trade-Ideas

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 69.6. Currently there are 9 analysts that rate Rackspace Hosting a buy, 1 analyst rates it a sell, and 5 rate it a hold.

The average volume for Rackspace Hosting has been 1.2 million shares per day over the past 30 days. Rackspace Hosting has a market cap of $7.6 billion and is part of the technology sector and computer software & services industry. The stock has a beta of 1.45 and a short float of 5.6% with 4.02 days to cover. Shares are up 15.4% year-to-date as of the close of trading on Friday.

If you liked this article you might like

Rackspace Confirms Departure of COO Roenigk

Largest U.S. Banks Bullish About M&A Despite Lackluster 2016

F5 Networks May Catch Activist Investor Attention Amid Sector Consolidation

Tech Deals Propel Wachtell, Wilson Sonsini to Big Third Quarter

Oracle Continues Its All-Out Push Into the Cloud, but Amazon and Others Aren't Standing Still