Rackspace Technology, Inc. (NASDAQ:RXT) Sees Large Decline in Short Interest

Posted by Brian Himes on Jun 16th, 2026

Rackspace Technology, Inc. (NASDAQ:RXT – Get Free Report) was the target of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 15,351,512 shares, a decline of 34.2% from the May 14th total of 23,342,880 shares. Based on an average daily trading volume, of 23,622,012 shares, the short-interest ratio is currently 0.6 days. Currently, 6.3% of the shares of the company are sold short.

Rackspace Technology Trading Up 14.7%

NASDAQ:RXT traded up $0.87 during mid-day trading on Tuesday, hitting $6.78. The stock had a trading volume of 51,924,271 shares, compared to its average volume of 23,818,510. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -11.21 and a beta of 3.01. The company has a 50 day simple moving average of $3.48 and a 200-day simple moving average of $1.97. Rackspace Technology has a 52 week low of $0.39 and a 52 week high of $7.65.

Rackspace Technology (NASDAQ:RXT – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $678.10 million for the quarter, compared to analysts’ expectations of $660.83 million. Rackspace Technology has set its FY 2026 guidance at -0.200–0.150 EPS. As a group, equities research analysts anticipate that Rackspace Technology will post -0.18 earnings per share for the current year.

Insider Activity

In other news, CFO Mark A. Marino sold 48,099 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $5.56, for a total transaction of $267,430.44. Following the completion of the transaction, the chief financial officer directly owned 3,370,431 shares of the company’s stock, valued at approximately $18,739,596.36. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Dharmendra Kumar Sinha sold 188,123 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $1.81, for a total value of $340,502.63. Following the transaction, the executive vice president directly owned 2,276,057 shares of the company’s stock, valued at $4,119,663.17. This trade represents a 7.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 250,280 shares of company stock valued at $633,378 over the last ninety days. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Rackspace Technology

Several hedge funds have recently bought and sold shares of RXT. Abel Hall LLC bought a new stake in shares of Rackspace Technology during the 1st quarter worth about $30,000. Savant Capital LLC bought a new stake in shares of Rackspace Technology during the 3rd quarter worth about $33,000. Creative Planning raised its position in shares of Rackspace Technology by 114.2% during the 2nd quarter. Creative Planning now owns 25,715 shares of the company’s stock worth $33,000 after buying an additional 13,708 shares in the last quarter. SG Americas Securities LLC bought a new position in Rackspace Technology during the 1st quarter valued at $34,000. Finally, Jump Financial LLC bought a new position in Rackspace Technology during the 4th quarter valued at $34,000. 82.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rackspace Technology in a report on Tuesday, June 2nd. Royal Bank Of Canada upped their target price on Rackspace Technology from $1.75 to $2.50 and gave the company a “sector perform” rating in a report on Friday, February 27th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $1.95.

Read Our Latest Stock Analysis on Rackspace Technology

Rackspace Technology Company Profile

(Get Free Report)

Rackspace Technology (NASDAQ: RXT) is a leading provider of managed multi-cloud solutions and services, specializing in the deployment, management and optimization of public and private cloud environments. The company helps organizations design and operate applications across platforms such as Amazon Web Services (AWS), Microsoft Azure, Google Cloud and its own private cloud infrastructure. Rackspace’s core offerings include cloud migration, application modernization, data protection, security services and 24x7x365 operational support.

Beyond cloud hosting, Rackspace offers a range of professional services designed to accelerate digital transformation initiatives.