Find Out How Rocket Companies Inc. (RKT) Insiders Are Trading Their Stock?

As of Friday close, Rocket Companies Inc.’s (NYSE:RKT) stock was down -$0.34, moving down -3.30 percent to $9.95. The average number of shares traded per day over the past five days has been 4,198,620 shares. 4 times new highs have been achieved over the past 5 days, with a $0.43 gain in that time frame. In the last twenty days, the average volume was 2,946,195, while in the previous 50 days, it was 3,408,582.

Since last month, RKT stock rose 13.71%. Shares of the company fell to $8.35 on 07/13/22, the lowest level in the past month. A 52-week high of $18.16 was reached on 01/04/22 after having rallying from a 52-week low of $6.27. Since the beginning of this year, RKT’s stock price has dropped by -23.49% or -$4.05, and marked a new high 2 times. However, the stock has declined by -45.21% since its 52-week high.

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Rocket Companies Inc. (RKT) last reported insider trading activity 3 days ago on Aug 03. Farner Jay, the Chief Executive Officer of the company, purchased of 19,500 shares for $10.24 on Aug 03. It resulted in a $199,680 investment by the insider. Rizik Matthew added 2,100 shares at an average price of $10.23 on Aug 03. The insider now owns 286,802 shares following the transaction. On Aug 02, Director Rizik Matthew bought 2,200 shares at $9.86 apiece. The transaction was valued at $21,692.

Valuation Metrics

Right now, Rocket Companies Inc. (RKT) has a P/E ratio of about 15.92. Besides these, the trailing price-to-sales (P/S) ratio of 1.73, the price-to-book (PB) ratio of 2.23.

The latest dividend of $1.01 per share was paid out, which is -9.01% less than last year’s $1.11.

Financial Health

According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 7.39, and the total debt-to-equity ratio was 25.04. Based on annual data, RKT earned $12.91 billion in gross profit and brought in $12.91 billion in revenue.

In Rocket Companies Inc.’s quarter-end financial report for March 30, it reported total debt of $6.47 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected Rocket Companies Inc. to report $0.19 quarterly earnings, the actual figure was $0.15 per share, beating the consensus estimate by -21.10%. During the quarter, the company generated $1.12 billion in EBITDA. The liabilities of Rocket Companies Inc. were 16.55 billion at the end of its most recent quarter ended March 30, and its total debt was $14.17 billion. The value of shareholders’ equity is $1.97 billion.

Technical Picture

This quick technical analysis looks at Rocket Companies Inc.’s (RKT) price momentum. With a historical volatility rate of 42.33%, the RSI 9-day stood at 62.37% on 05 August.

With respect to its five-day moving average, the current Rocket Companies Inc. price is up by +4.52% percent or $0.43. At present, RKT shares trade +16.24% above its 20-day simple moving average and -3.86% percent below its 100-day simple moving average. However, the stock is currently trading approximately +13.71% above its SMA50 and -40.84% below its SMA200.

Stochastic coefficient K was 82.80% and Stochastic coefficient D was 90.82%, while ATR was 0.52. Given the Stochastic reading of 66.87% for the 14-day period, the RSI (14) reading has been calculated as 62.42%. As of today, the MACD Oscillator reading stands at 0.38, while the 14-day reading stands at 0.49.

Analyst Ratings

Wells Fargo upgraded its rating on Rocket Companies Inc. (NYSE: RKT) to an Overweight in a note to investors on July 06, 2022. The analysts firm previously had an Equal weight rating on the stock.Rocket Companies Inc. (RKT) has been rated Hold by analysts. According to 0 brokerage firms, RKT is a sell, and 12 firms recommend it is a Hold. There are 2 analysts who say the stock is underweight. A total of 1 analyst rate Rocket Companies Inc. stock as buy, with 2 recommending it as overweight.

With a median target price of $9.00, the current consensus forecast for the stock is $6.50 – $11.00. Based on these forecasts, analysts predict Rocket Companies Inc. (RKT) will achieve an average price target of $8.68.


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