The stock of Rocket Companies Inc (RKT) has gone up by 10.40% for the week, with a -10.62% drop in the past month and a 2.18% rise in the past quarter. The volatility ratio for the week is 3.88%, and the volatility levels for the past 30 days are 4.46% for RKT. The simple moving average for the past 20 days is -2.00% for RKT’s stock, with a 16.34% simple moving average for the past 200 days.
Is It Worth Investing in Rocket Companies Inc (NYSE: RKT) Right Now?
Moreover, the 36-month beta value for RKT is 2.44. Analysts have varying opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for RKT is 121.59M and currently, short sellers hold a 16.56% of that float. On April 24, 2024, RKT’s average trading volume was 2.42M shares.
RKT) stock’s latest price update
Rocket Companies Inc (NYSE: RKT) has seen a rise in its stock price by 5.51 in relation to its previous close of 11.97. However, the company has experienced a 10.40% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-17 that Investors interested in stocks from the Technology Services sector have probably already heard of Smiths Group PLC (SMGZY) and Rocket Companies (RKT). But which of these two companies is the best option for those looking for undervalued stocks?
Analysts’ Opinion of RKT
Many brokerage firms have already submitted their reports for RKT stocks, with Citigroup repeating the rating for RKT by listing it as a “Sell.” The predicted price for RKT in the upcoming period, according to Citigroup is $10 based on the research report published on January 16, 2024 of the current year 2024.
JP Morgan gave a rating of “Underweight” to RKT, setting the target price at $10.50 in the report published on January 04th of the current year.
RKT Trading at 1.19% 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 -16.85% of loss for the given period.
Volatility was left at 4.46%, however, over the last 30 days, the volatility rate increased by 3.88%, as shares sank -9.91% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +9.35% upper at present.
During the last 5 trading sessions, RKT rose by +10.40%, which changed the moving average for the period of 200-days by +42.55% in comparison to the 20-day moving average, which settled at $12.82. In addition, Rocket Companies Inc saw -12.78% 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 380 shares at the price of $11.53 back on Apr 19 ’24. After this action, Rizik Matthew now owns 697,133 shares of Rocket Companies Inc, valued at $4,381 using the latest closing price.
Rizik Matthew, the Director of Rocket Companies Inc, purchase 383 shares at $11.44 during a trade that took place back on Apr 17 ’24, which means that Rizik Matthew is holding 696,753 shares at $4,382 based on the most recent closing price.
Stock Fundamentals for RKT
Current profitability levels for the company are sitting at:
- -0.15 for the present operating margin
- 0.97 for the gross margin
The net margin for Rocket Companies Inc stands at -0.11. The total capital return value is set at -0.03. Equity return is now at value -2.58, with -0.08 for asset returns.
Based on Rocket Companies Inc (RKT), the company’s capital structure generated 0.94 points at debt to capital in total, while cash flow to debt ratio is standing at 0.01. The debt to equity ratio resting at 14.8. The interest coverage ratio of the stock is -1.8.
Currently, EBITDA for the company is 67.35 million with net debt to EBITDA at -17.59. When we switch over and look at the enterprise to sales, we see a ratio of 8.71. The receivables turnover for the company is 6.64for trailing twelve months and the total asset turnover is 0.2.
Conclusion
To wrap up, the performance of Rocket Companies Inc (RKT) has been mixed in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. 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.
