Assessing Whether Rocket Companies Inc (NYSE: RKT) Is Over- Or Undervalued

Rocket Companies Inc (RKT) concluded trading on Wednesday at a closing price of $13.24, with 3.6 million shares of worth about $47.67 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 65.71% during that period and on April 3, 2024 the price saw a gain of about 0.53%. Currently the company’s common shares owned by public are about 135.81M shares, out of which, 119.45M shares are available for trading.

However, the stock later moved at a day high price of 13.18, or with a gain of 0.53%. Stock saw a price change of -3.78% in past 5 days and over the past one month there was a price change of 4.66%. Year-to-date (YTD), RKT shares are showing a performance of -8.56% which increased to 46.14% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.17 but also hit the highest price of $15.19 during that period. The average intraday trading volume for Rocket Companies Inc shares is 2.51 million. The stock is currently trading 0.82% above its 20-day simple moving average (SMA20), while that difference is up 6.66% for SMA50 and it goes to 24.73% higher than SMA200.

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Rocket Companies Inc (NYSE: RKT) currently have 135.81M outstanding shares and institutions hold larger chunk of about 62.31% of that.

The stock has a current market capitalization of $1.81B and its 3Y-monthly beta is at 2.43. It has posted earnings per share of -$0.15 in the same period. It has a debt-to-equity ratio of 15.30. 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 4.64% while standing at 4.57% over the month.

Stock’s fiscal year EPS is expected to rise by 556.06% while it is estimated to increase by 78.17% in next year.

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 Citigroup on January 16, 2024 offering a Sell rating for the stock and assigned a target price range of between $9 and $10 to it. On January 04, 2024, JP Morgan Downgrade their recommendations, while on January 03, 2024, Wells Fargo Downgrade their ratings for the stock with a price target of $14. Stock get an Underperform rating from Keefe Bruyette on January 03, 2024.

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