As of Thursday close, Rocket Companies Inc.’s (NYSE:RKT) stock was down -$0.18, moving down -1.75 percent to $10.12. The average number of shares traded per day over the past five days has been 2,402,020 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.29 fall in that time frame. In the last twenty days, the average volume was 2,262,120, while in the previous 50 days, it was 1,973,922.
Since last month, RKT stock rose 9.29%. Shares of the company fell to $8.39 on 07/06/23, the lowest level in the past month. A 52-week high of $11.38 was reached on 07/31/23 after having rallying from a 52-week low of $5.97. Since the beginning of this year, RKT’s stock price has risen by 44.57% or $3.12, and marked a new high 15 times. However, the stock has declined by -11.03% since its 52-week high.
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RKT stock investors should be aware that Rocket Companies Inc. (RKT) stock had its last reported insider trading activity 220 days ago on Dec 27. Rizik Matthew, the Director of the company, purchased of 2,000 shares for $6.95 on Dec 27. It resulted in a $13,900 investment by the insider. Rizik Matthew added 2,900 shares at an average price of $7.30 on Dec 23. The insider now owns 569,502 shares following the transaction. On Dec 22, Director Rizik Matthew bought 3,000 shares at $7.31 apiece. The transaction was valued at $21,930.
Valuation Metrics
The stock’s beta is 2.14. Besides these, the trailing price-to-sales (P/S) ratio of 4.82, the price-to-book (PB) ratio of 2.19, and the price-to-cash flow ratio of 30.25 may also be considered.
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 7.05, and the total debt-to-equity ratio was 19.71. In the year ended March 30, EBITDA margin amounted to 30.03%, whereas operating margins totaled -7.20%. Based on annual data, RKT earned $5.1 billion in gross profit and brought in $5.84 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 11.60%. Return on equity (ROE) for the past 12 months was -4.60%.
In Rocket Companies Inc.’s quarter-end financial report for March 30, it reported total debt of $5.24 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 -$0.09 quarterly earnings, the actual figure was -$0.06 per share, beating the consensus estimate by 33.30%. During the quarter, the company generated -$346.97 million in EBITDA. The liabilities of Rocket Companies Inc. were 13.09 billion at the end of its most recent quarter ended March 30, and its total debt was $11.79 billion. The value of shareholders’ equity is $1.98 billion.
Technical Picture
This quick technical analysis looks at Rocket Companies Inc.’s (RKT) price momentum. With a historical volatility rate of 33.18%, the RSI 9-day stood at 45.02% on 03 August.
With respect to its five-day moving average, the current Rocket Companies Inc. price is down by -2.79% percent or -$0.29. At present, RKT shares trade +16.46% above its 20-day simple moving average and +25.56% percent above its 100-day simple moving average. However, the stock is currently trading approximately +22.07% above its SMA50 and +51.72% above its SMA200.
Stochastic coefficient K was 28.83% and Stochastic coefficient D was 50.45%, while ATR was 0.44. Given the Stochastic reading of 9.84% for the 14-day period, the RSI (14) reading has been calculated as 51.41%. As of today, the MACD Oscillator reading stands at -0.15, while the 14-day reading stands at -0.13.
Analyst Ratings
Argus upgraded its rating on Rocket Companies Inc. (NYSE: RKT) to a Hold in a note to investors on May 22, 2023. The analysts firm previously had a Sell rating on the stock.Rocket Companies Inc. (RKT) has been rated Hold by analysts. According to 2 brokerage firms, RKT is a sell, and 10 firms recommend it is a Hold. There are 2 analysts who say the stock is underweight. A total of 0 analysts rate Rocket Companies Inc. stock as buy, with 1 recommending it as overweight.
With a median target price of $8.50, the current consensus forecast for the stock is $6.00 – $11.00. Based on these forecasts, analysts predict Rocket Companies Inc. (RKT) will achieve an average price target of $8.58.
