The stock of Rocket Companies Inc (RKT) has seen a -1.51% decrease in the past week, with a -6.15% drop in the past month, and a 0.41% flourish in the past quarter. The volatility ratio for the week is 4.32%, and the volatility levels for the past 30 days are at 4.38% for RKT. The simple moving average for the last 20 days is -0.42% for RKT stock, with a simple moving average of 13.07% for the last 200 days.
Is It Worth Investing in Rocket Companies Inc (NYSE: RKT) Right Now?
The 36-month beta value for RKT is at 2.43. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for RKT is 121.62M, and currently, shorts hold a 15.37% of that float. The average trading volume for RKT on May 02, 2024 was 2.40M shares.
RKT) stock’s latest price update
Rocket Companies Inc (NYSE: RKT)’s stock price has increased by 0.65 compared to its previous closing price of 12.28. However, the company has seen a -1.51% decrease in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-29 that Besides Wall Street’s top -and-bottom-line estimates for Rocket Companies (RKT), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended March 2024.
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 -1.76% 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 -18.63% of loss for the given period.
Volatility was left at 4.38%, however, over the last 30 days, the volatility rate increased by 4.32%, as shares sank -6.65% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +10.85% upper at present.
During the last 5 trading sessions, RKT fell by -1.51%, which changed the moving average for the period of 200-days by +21.53% in comparison to the 20-day moving average, which settled at $12.37. In addition, Rocket Companies Inc saw -14.64% 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 321 shares at the price of $12.20 back on May 01 ’24. After this action, Rizik Matthew now owns 699,233 shares of Rocket Companies Inc, valued at $3,916 using the latest closing price.
Rizik Matthew, the Director of Rocket Companies Inc, purchase 353 shares at $12.28 during a trade that took place back on Apr 30 ’24, which means that Rizik Matthew is holding 698,912 shares at $4,335 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 8.57. The receivables turnover for the company is 6.64for trailing twelve months and the total asset turnover is 0.2.
Conclusion
In conclusion, Rocket Companies Inc (RKT) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others 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.
