What Technical Indicators Show About Rocket Companies Inc. (RKT)?

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Rocket Companies Inc. (NYSE:RKT) finished Wednesday with a subtraction of -$0.05 to close at $7.31, a downside of -0.68 percent. An average of 3,545,520 shares of common stock have been traded in the last five days. There was a fall of -$0.22 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 3,085,510 shares traded, while the 50-day average volume stands at 3,059,686.

RKT stock has decreased by -21.14% in the last month. The company shares reached their 1-month lowest point of $7.16 on 09/07/22. With the stock rallying to its 52-week high on 01/04/22, shares of the company touched a low of $6.27 and a high of $16.84 in 52 weeks. It has reached a new high 2 times so far this year and lost -43.79% or -$6.69 in price. In spite of this, the price is down -56.60% from the 52-week high.


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Valuation Metrics

Rocket Companies Inc. (RKT) has a trailing price-to-earnings (P/E) ratio of 4.75. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.42, the price-to-book (PB) ratio at 1.62, and the price-to-cash flow ratio at 1.22.

Financial Health

Further, the company has a long term debt to equity ratio of 7.57 and a total debt to equity ratio of 26.61 for the quarter ending June 29. Its gross profit as reported stood at $12.91 billion compared to revenue of $12.91 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Rocket Companies Inc.’s return on assets was 0.60%.

Earnings Surprise

For the three-month period that ended June 29, Rocket Companies Inc. had $7.65 billion in total debt. The analyst consensus anticipated Rocket Companies Inc.’s latest quarter earnings to come in at $0.02 per share, but it turned out to be -$0.03, a -250.00% surprise. For the quarter, EBITDA amounted to $141.58 million. Shareholders own equity worth $1.96 billion.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Rocket Companies Inc. (RKT) price momentum. RSI 9-day as of the close on 21 September was 31.36%, suggesting the stock is Neutral, with historical volatility in this time frame at 41.57%.

As of today, RKT’s price is $7.48 -2.92% or -$0.22 from its 5-day moving average. RKT is currently trading -21.90% lower than its 20-day SMA and -18.51% lower than its 100-day SMA. However, the stock’s current price level is -16.46% below the SMA50 and -53.44% below the SMA200.

The stochastic %K and %D were 24.88% and 28.13%, respectively, and the average true range (ATR) was 0.43. With the 14-day stochastic at 14.85% and the average true range at 0.45, the RSI (14) stands at 34.73%. The stock has reached -0.21 on the 9-day MACD Oscillator while the 14-day reading was at -0.17.

Analyst Ratings

JP Morgan downgraded Rocket Companies Inc. (NYSE: RKT) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as an Overweight. The consensus rating for Rocket Companies Inc. (RKT) among analysts is Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell RKT, while 12 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 1 others rate it as a “buy”.

What is RKT’s price target for the next 12 months?

Analysts predict a range of price targets between $6.50 and $10.00, with a median target of $8.75. Taking a look at these predictions, the average price target given by analysts for Rocket Companies Inc. (RKT) stock is $8.53.

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