Look For Institutional Buying In Rocket Companies Inc (NYSE: RKT)

Rocket Companies Inc (RKT) concluded trading on Wednesday at a closing price of $20.42, with 4.54 million shares of worth about $92.66 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 60.91% during that period and on September 18, 2024 the price saw a loss of about -1.21%. Currently the company’s common shares owned by public are about 135.81M shares, out of which, 121.27M shares are available for trading.

Stock saw a price change of 10.62% in past 5 days and over the past one month there was a price change of 6.41%. Year-to-date (YTD), RKT shares are showing a performance of 41.02% which increased to 120.76% 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 $21.28 during that period. The average intraday trading volume for Rocket Companies Inc shares is 3.29 million. The stock is currently trading 3.62% above its 20-day simple moving average (SMA20), while that difference is up 15.74% for SMA50 and it goes to 44.81% 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 64.60% of that.

The stock has a current market capitalization of $2.87B and its 3Y-monthly beta is at 2.44. PE ratio of stock for trailing 12 months is 262.47, while it has posted earnings per share of $0.08 in the same period. It has a debt-to-equity ratio of 20.54. 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 4.68% while standing at 4.04% over the month.

Stock’s fiscal year EPS is expected to rise by 514.83% while it is estimated to increase by 106.60% in next year.

Coverage by Citigroup stated Rocket Companies Inc (RKT) stock as a Sell in their note to investors on January 16, 2024, suggesting a price target of $10 for the stock. On January 10, 2024, Deutsche Bank Initiated their recommendations, while on January 04, 2024, JP Morgan Downgrade their ratings for the stock with a price target of $10.50. Stock get an Equal weight rating from Wells Fargo on January 03, 2024.

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