Currently, there are 116.91M common shares owned by the public and among those 99.34M shares have been available to trade.
The company’s stock has a 5-day price change of 18.02% and 193.95% over the past three months. It has a 12-month low price of $37.35 and touched a high of $163.72 over the same period. RDDT has an average intraday trading volume of 6.14 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 17.72%, 53.60%, and 134.38% respectively.
Institutional ownership of Reddit Inc (NYSE: RDDT) shares accounts for 39.08% of the company’s 116.91M shares outstanding.
It has a market capitalization of $31.21B. The earnings-per-share (ttm) stands at -$3.30. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.10% over the week and 6.68% over the month.
Earnings per share for the fiscal year are expected to decrease by -179.69%, and 116.61% over the next financial year.
Looking at the support for the RDDT, a number of firms have released research notes about the stock. Morgan Stanley stated their Overweight rating for the stock in a research note on Dec-10-24, with the firm’s price target at $70-$200. Jefferies coverage for the Reddit Inc (RDDT) stock in a research note released on October 09, 2024 offered a Buy rating with a price target of $90. B. Riley Securities was of a view on September 20, 2024 that the stock is Buy, while Loop Capital gave the stock Buy rating on August 01, 2024, issuing a price target of $75. ROTH MKM on their part issued Buy rating on July 26, 2024.
