Reddit Inc. (RDDT) concluded trading on Wednesday at a closing price of $67.78, with 3.71 million shares of worth about $251.55 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 44.24% during that period and on October 02, 2024 the price saw a gain of about 2.74%. Currently the company’s common shares owned by public are about 165.88M shares, out of which, 74.34M shares are available for trading.
Stock saw a price change of -0.15% in past 5 days and over the past one month there was a price change of 17.82%. Over the period of past 52 weeks, stock dropped to lowest price of $37.35 but also hit the highest price of $78.08 during that period. The average intraday trading volume for Reddit Inc. shares is 3.84 million. The stock is currently trading 8.78% above its 20-day simple moving average (SMA20), while that difference is up 14.05% for SMA50 and it goes to 18.40% higher than SMA200.
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Reddit Inc. (NYSE: RDDT) currently have 165.88M outstanding shares and institutions hold larger chunk of about 17.93% of that.
The stock has a current market capitalization of $11.24B. It has posted earnings per share of -$3.51 in the same period. It has Quick Ratio of 12.42 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 4.14% while standing at 4.90% over the month.
Stock’s fiscal year EPS is expected to drop by -199.09% while it is estimated to increase by 99.95% 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 B. Riley Securities on September 20, 2024 offering a Buy rating for the stock and assigned a target price of $75 to it. Coverage by Loop Capital stated Reddit Inc. (RDDT) stock as a Buy in their note to investors on August 01, 2024, suggesting a price target of $75 for the stock. On July 26, 2024, ROTH MKM Reiterated their recommendations, while on July 16, 2024, Loop Capital Downgrade their ratings for the stock with a price target of $75. Stock get a Buy rating from Needham on May 08, 2024.
