The stock price of Redfin Corp (NASDAQ: RDFN) has plunged by -2.17 when compared to previous closing price of 6.65, but the company has seen a 6.65% gain in its stock price over the last five trading sessions. The Motley Fool reported 2024-03-28 that Redfin issued a report showing that new listings were rising at their fastest pace in three years. RH also offered strong guidance for 2024, another sign that the housing market is on the rebound.
Is It Worth Investing in Redfin Corp (NASDAQ: RDFN) Right Now?
The stock has a 36-month beta value of 2.66. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 2 as “overweight,” 5 as “hold,” and 0 as “sell.”
The public float for RDFN is 114.18M, and at present, short sellers hold a 17.59% of that float. On April 01, 2024, the average trading volume of RDFN was 5.45M shares.
RDFN’s Market Performance
RDFN stock saw a decrease of 6.65% in the past week, with a monthly decline of -8.44% and a quarterly a decrease of -38.04%. The volatility ratio for the week is 6.84%, and the volatility levels for the last 30 days are 7.21% for Redfin Corp (RDFN). The simple moving average for the last 20 days is 1.45% for RDFN stock, with a simple moving average of -25.28% for the last 200 days.
Analysts’ Opinion of RDFN
Many brokerage firms have already submitted their reports for RDFN stocks, with Gordon Haskett repeating the rating for RDFN by listing it as a “Underperform.” The predicted price for RDFN in the upcoming period, according to Gordon Haskett is $5.50 based on the research report published on February 29, 2024 of the current year 2024.
B. Riley Securities, on the other hand, stated in their research note that they expect to see RDFN reach a price target of $8. The rating they have provided for RDFN stocks is “Neutral” according to the report published on December 08th, 2023.
DA Davidson gave a rating of “Neutral” to RDFN, setting the target price at $8 in the report published on September 28th of the previous year.
RDFN Trading at -10.32% from the 50-Day Moving Average
After a stumble in the market that brought RDFN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -63.20% of loss for the given period.
Volatility was left at 7.21%, however, over the last 30 days, the volatility rate increased by 6.84%, as shares sank -6.79% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -14.59% lower at present.
During the last 5 trading sessions, RDFN rose by +6.97%, which changed the moving average for the period of 200-days by -38.79% in comparison to the 20-day moving average, which settled at $6.39. In addition, Redfin Corp saw -36.96% 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 RDFN starting from KELMAN GLENN, who purchase 30,500 shares at the price of $6.41 back on Mar 06 ’24. After this action, KELMAN GLENN now owns 1,458,448 shares of Redfin Corp, valued at $195,593 using the latest closing price.
Taubman Christian John, the Chief Growth Officer of Redfin Corp, sale 7,916 shares at $6.90 during a trade that took place back on Mar 01 ’24, which means that Taubman Christian John is holding 52,117 shares at $54,592 based on the most recent closing price.
Stock Fundamentals for RDFN
Current profitability levels for the company are sitting at:
- -0.2 for the present operating margin
- 0.3 for the gross margin
The net margin for Redfin Corp stands at -0.12. The total capital return value is set at -0.24. Equity return is now at value -177.22, with -9.39 for asset returns.
Based on Redfin Corp (RDFN), the company’s capital structure generated 0.96 points at debt to capital in total, while cash flow to debt ratio is standing at 0.06. The debt to equity ratio resting at 22.96. The interest coverage ratio of the stock is -34.78.
Currently, EBITDA for the company is -131.09 million with net debt to EBITDA at -5.51. When we switch over and look at the enterprise to sales, we see a ratio of 1.51. The receivables turnover for the company is 3277.86for trailing twelve months and the total asset turnover is 0.91.
Conclusion
To sum up, Redfin Corp (RDFN) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
