The stock of Reddit Inc. (RDDT) has gone down by -5.76% for the week, with a 19.78% rise in the past month and a 68.25% rise in the past quarter. The volatility ratio for the week is 6.63%, and the volatility levels for the past 30 days are 6.96% for RDDT. The simple moving average for the past 20 days is 1.96% for RDDT’s stock, with a 23.25% simple moving average for the past 200 days.
Is It Worth Investing in Reddit Inc. (NYSE: RDDT) Right Now?
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.”
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The public float for RDDT is 30.51M, and currently, shorts hold a 27.64% of that float. The average trading volume for RDDT on July 22, 2024 was 3.39M shares.
RDDT) stock’s latest price update
Reddit Inc. (NYSE: RDDT)’s stock price has gone rise by 6.30 in comparison to its previous close of 64.70, however, the company has experienced a -5.76% decrease in its stock price over the last five trading days. investorplace.com reported 2024-07-22 that The astonishing GameStop (NYSE: GME ) short squeeze in January 2021 was a watershed moment for meme investing. Although coordinated retail investors have bought into positions in a similar way to meme stocks in the past, 2021 underlined the strength of social media in driving the meme stocks to buy now.
Analysts’ Opinion of RDDT
Many brokerage firms have already submitted their reports for RDDT stocks, with Loop Capital repeating the rating for RDDT by listing it as a “Hold.” The predicted price for RDDT in the upcoming period, according to Loop Capital is $75 based on the research report published on July 16, 2024 of the current year 2024.
Needham, on the other hand, stated in their research note that they expect to see RDDT reach a price target of $63, previously predicting the price at $55. The rating they have provided for RDDT stocks is “Buy” according to the report published on May 08th, 2024.
Deutsche Bank gave a rating of “Buy” to RDDT, setting the target price at $50 in the report published on April 16th of the current year.
RDDT Trading at 10.96% from the 50-Day Moving Average
After a stumble in the market that brought RDDT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -11.91% of loss for the given period.
Volatility was left at 6.96%, however, over the last 30 days, the volatility rate increased by 6.63%, as shares surge +19.34% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +33.04% upper at present.
During the last 5 trading sessions, RDDT fell by -6.30%, in comparison to the 20-day moving average, which settled at $68.01. In addition, Reddit Inc. saw 36.36% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RDDT starting from Vollero Andrew, who sale 50,580 shares at the price of $58.94 back on May 23 ’24. After this action, Vollero Andrew now owns 631,080 shares of Reddit Inc., valued at $2,981,352 using the latest closing price.
Huffman Steve Ladd, the CEO & President of Reddit Inc., sale 42,299 shares at $58.94 during a trade that took place back on May 23 ’24, which means that Huffman Steve Ladd is holding 689,157 shares at $2,493,243 based on the most recent closing price.
Stock Fundamentals for RDDT
Current profitability levels for the company are sitting at:
- -0.75 for the present operating margin
- 0.87 for the gross margin
The net margin for Reddit Inc. stands at -0.68. The total capital return value is set at -0.35. Equity return is now at value -6.23, with -5.68 for asset returns.
Based on Reddit Inc. (RDDT), the company’s capital structure generated 0.01 points at debt to capital in total, while cash flow to debt ratio is standing at 0.74.
Currently, EBITDA for the company is -126.46 million with net debt to EBITDA at 1.46. When we switch over and look at the enterprise to sales, we see a ratio of 11.57. The receivables turnover for the company is 3.84for trailing twelve months and the total asset turnover is 0.44. The liquidity ratio also appears to be rather interesting for investors as it stands at 12.27.
Conclusion
In conclusion, Reddit Inc. (RDDT) has had a better performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
