Reddit Inc. (RDDT) concluded trading on Wednesday at a closing price of $63.61, with 3.82 million shares of worth about $243.25 million changed hands on the day. On June 26, 2024 the price saw a gain of about 3.63%. Currently the company’s common shares owned by public are about 44.29M shares, out of which, 30.51M shares are available for trading.
Stock saw a price change of 5.65% in past 5 days and over the past one month there was a price change of 16.25%. Over the period of past 52 weeks, stock dropped to lowest price of $37.35 but also hit the highest price of $74.90 during that period. The average intraday trading volume for Reddit Inc. shares is 4.59 million. The stock is currently trading 7.32% above its 20-day simple moving average (SMA20), while that difference is up 19.00% for SMA50 and it goes to 21.41% higher than SMA200.
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Reddit Inc. (NYSE: RDDT) currently have 44.29M outstanding shares and institutions hold larger chunk of about 11.76% of that.
The stock has a current market capitalization of $10.40B. It has posted earnings per share of -$3.70 in the same period. It has Quick Ratio of 12.27 while making debt-to-equity ratio of 0.01. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RDDT, volatility over the week remained 6.90% while standing at 7.28% over the month.
Stock’s fiscal year EPS is expected to drop by -220.62% while it is estimated to increase by 88.08% 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 Needham on May 08, 2024 offering a Buy rating for the stock and assigned a target price range of between $55 and $63 to it. Coverage by Deutsche Bank stated Reddit Inc. (RDDT) stock as a Buy in their note to investors on April 16, 2024, suggesting a price target of $50 for the stock. On April 16, 2024, BofA Securities Initiated their recommendations, while on April 15, 2024, ROTH MKM Initiated their ratings for the stock with a price target of $50. Stock get a Strong buy rating from Raymond James on April 15, 2024.
