Following The Money: Institution’s Growing Stake In Rocket Companies Inc. (NYSE: RKT)


Rocket Companies Inc. (RKT) concluded trading on 08/27/20 at a closing price of $27.10, with 17.71 million shares of worth about $479.88 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 13.91% during that period and on Thursday the price saw a loss of about -0.81%. Currently the company’s common shares owned by public are about 92.23M shares.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 1 analyst is covering the RKT stock and their offered price forecasts bring an average price target of $18.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $18.00 and could fall to a lowest price of $18.00. However, touching the estimated high of $18.00 would mean a loss of -50.56% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 15 times over the past 12 months. They bought 4,058,787 shares in 14 of the transactions. In 1 selling transactions, insiders dumped 100,000,000 shares.

The company recently came buying 0.0 shares which brought its stake up to 0.00% of the company’s outstanding shares.

Rocket Companies Inc. (NYSE: RKT) started trading at $27.31, below -$0.01 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $27.10, or with a loss of -0.81%. Over the period of past 52 weeks, stock dropped to lowest price of $17.50 but also hit the highest price of $29.96 during that period. While comparing its average daily trading volume of 35.48 million shares, we see that about 17.71 million changed hands on the day. The stock is currently trading 18.98% above its 20-day simple moving average (SMA20), while that difference is up 18.98% for SMA50 and it goes to 18.98% higher than SMA200.

Holding of mutual funds in the company is about — while other institutional holders and individual stake holders have control over 0.00% and — of the stake respectively.

The stock has a current market capitalization of $2.50B. PE ratio of stock for trailing 12 months is 41.63, while it has posted earnings per share of $0.65 in the same period. It has a debt-to-equity ratio of 4.28. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RKT, volatility over the week remained 8.68%.

Stock’s fiscal year EPS is expected to rise by 45.80%.

Analysts at 1 brokerage firms have issued recommendations for the Rocket Companies Inc. (RKT)’s stock out of those 1 Wall Street analysts, 0 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Susquehanna on August 13, 2020 offering a Neutral rating for the stock and assigned a target price of $18 to it.


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