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Daily High to Daily Low: Is It Safe to Buy Rocket Companies Inc. (RKT)?

Rocket Companies Inc. (NYSE:RKT) went up by 0.61% from its latest closing price compared to the recent 1-year high of $18.16. The company’s stock price has collected 8.62% of gains in the last five trading sessions. Barron’s reported on 05/11/22 that Rocket Cos. Stock Falls as Revenue Tumbles

Is It Worth Investing in Rocket Companies Inc. (NYSE :RKT) Right Now?

Rocket Companies Inc. (NYSE:RKT) scored a price-to-earnings ratio above its average ratio, recording 15.92 x from its present earnings ratio. Opinions of the stock are interesting as 2 analysts out of 17 who provided ratings for Rocket Companies Inc. declared the stock was a “buy,” while 1 rated the stock as “overweight,” 12 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $8.67, which is -$1.5 below the current price. RKT currently public float of 110.39M and currently shorts hold a 30.44% ratio of that float. Today, the average trading volume of RKT was 3.84M shares.

RKT’s Market Performance

RKT stocks went up by 8.62% for the week, with a monthly jump of 30.75% and a quarterly performance of 10.43%, while its annual performance rate touched -40.13%. The volatility ratio for the week stands at 4.01% while the volatility levels for the past 30 days are set at 4.52% for Rocket Companies Inc. The simple moving average for the period of the last 20 days is 9.76% for RKT stocks with a simple moving average of -12.33% for the last 200 days.

Analysts’ Opinion of RKT

Many brokerage firms have already submitted their reports for RKT stocks, with Wells Fargo repeating the rating for RKT by listing it as a “Overweight.” The predicted price for RKT in the upcoming period, according to Wells Fargo is $10 based on the research report published on July 06th of the current year 2022.

Keefe Bruyette gave a rating of “Mkt Perform” to RKT, setting the target price at $7 in the report published on May 16th of the current year.

RKT Trading at 17.92% from the 50-Day Moving Average

After a stumble in the market that brought RKT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -45.21% of loss for the given period.

Volatility was left at 4.52%, however, over the last 30 days, the volatility rate increased by 4.01%, as shares surge +23.60% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +10.68% upper at present.

During the last 5 trading sessions, RKT rose by +8.62%, which changed the moving average for the period of 200-days by -37.85% in comparison to the 20-day moving average, which settled at $9.16. In addition, Rocket Companies Inc. saw -23.49% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at RKT starting from Rizik Matthew, who purchase 2,200 shares at the price of $9.49 back on Jul 29. After this action, Rizik Matthew now owns 280,302 shares of Rocket Companies Inc., valued at $20,878 using the latest closing price.

Farner Jay, the Chief Executive Officer of Rocket Companies Inc., purchase 21,000 shares at $9.49 during a trade that took place back on Jul 29, which means that Farner Jay is holding 3,407,007 shares at $199,290 based on the most recent closing price.

Stock Fundamentals for RKT

Current profitability levels for the company are sitting at:

  • +66.76 for the present operating margin
  • +99.25 for the gross margin

The net margin for Rocket Companies Inc. stands at +3.08.

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