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Is a Correction Looming Ahead for Rocket Companies Inc. (RKT)

Rocket Companies Inc. (NYSE:RKT) went down by -0.68% from its latest closing price compared to the recent 1-year high of $16.84. The company’s stock price has collected -2.92% of loss in the last five trading sessions. Barron’s reported on 08/05/22 that Rocket CEO Jay Farner Bought Shares Before Earnings Miss

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 4.75 x from its present earnings ratio.

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RKT currently public float of 111.45M and currently shorts hold a 29.21% ratio of that float. Today, the average trading volume of RKT was 3.25M shares.

RKT’s Market Performance

RKT stocks went down by -2.92% for the week, with a monthly drop of -21.14% and a quarterly performance of 5.03%, while its annual performance rate touched -52.45%. The volatility ratio for the week stands at 4.66% while the volatility levels for the past 30 days are set at 5.31% for Rocket Companies Inc. The simple moving average for the period of the last 20 days is -8.51% for RKT stocks with a simple moving average of -28.70% for the last 200 days.

Analysts’ Opinion of RKT

Many brokerage firms have already submitted their reports for RKT stocks, with JP Morgan repeating the rating for RKT by listing it as a “Neutral.” The predicted price for RKT in the upcoming period, according to JP Morgan is $8.50 based on the research report published on September 06th of the current year 2022.

Keefe Bruyette, on the other hand, stated in their research note that they expect to see RKT reach a price target of $6.50. The rating they have provided for RKT stocks is “Underperform” according to the report published on August 08th, 2022.

Wells Fargo gave a rating of “Overweight” to RKT, setting the target price at $10 in the report published on July 06th of the current year.

RKT Trading at -19.15% 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 -56.60% of loss for the given period.

Volatility was left at 5.31%, however, over the last 30 days, the volatility rate increased by 4.66%, as shares sank -21.90% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -16.46% lower at present.

During the last 5 trading sessions, RKT fell by -2.92%, which changed the moving average for the period of 200-days by -53.44% in comparison to the 20-day moving average, which settled at $7.89. In addition, Rocket Companies Inc. saw -43.79% 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 2,900 shares at the price of $7.55 back on Sep 21. After this action, Rizik Matthew now owns 371,502 shares of Rocket Companies Inc., valued at $21,895 using the latest closing price.

Farner Jay, the Chief Executive Officer of Rocket Companies Inc., purchase 26,500 shares at $7.55 during a trade that took place back on Sep 21, which means that Farner Jay is holding 4,239,907 shares at $200,075 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. Equity return is now at value 29.50, with 0.60 for asset returns.

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