In the past week, RDDT stock has gone up by 2.21%, with a monthly decline of -17.05% and a quarterly plunge of -13.49%. The volatility ratio for the week is 3.81%, and the volatility levels for the last 30 days are 6.64% for Reddit Inc. The simple moving average for the last 20 days is -7.60% for RDDT stock, with a simple moving average of -4.58% for the last 200 days.
Is It Worth Investing in Reddit Inc. (NYSE: RDDT) Right Now?
There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for RDDT is 64.99M and currently, short sellers hold a 12.03% ratio of that float. The average trading volume of RDDT on August 19, 2024 was 3.48M shares.
RDDT) stock’s latest price update
The stock of Reddit Inc. (NYSE: RDDT) has decreased by -2.28 when compared to last closing price of 54.92. Despite this, the company has experienced a 2.21% gain in its stock price over the last five trading sessions. marketbeat.com reported 2024-08-15 that Wall Street analysts understand that their reputations and careers are on the line each time they issue a recommendation for—or against—a stock. Knowing this, investors would find the weight of the decision-making and stock rating all the more important now that the S&P 500 has survived one of the worst weeks of 2024.
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 “Buy.” The predicted price for RDDT in the upcoming period, according to Loop Capital is $75 based on the research report published on August 01, 2024 of the current year 2024.
ROTH MKM, on the other hand, stated in their research note that they expect to see RDDT reach a price target of $67, previously predicting the price at $61. The rating they have provided for RDDT stocks is “Buy” according to the report published on July 26th, 2024.
Loop Capital gave a rating of “Hold” to RDDT, setting the target price at $75 in the report published on July 16th of the current year.
RDDT Trading at -14.10% 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 -31.26% of loss for the given period.
Volatility was left at 6.64%, however, over the last 30 days, the volatility rate increased by 3.81%, as shares sank -21.37% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -15.58% lower at present.
During the last 5 trading sessions, RDDT rose by +2.02%, in comparison to the 20-day moving average, which settled at $57.36. In addition, Reddit Inc. saw 6.40% 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 Gale Mary Porter, who sale 30,000 shares at the price of $52.31 back on Aug 12 ’24. After this action, Gale Mary Porter now owns 71,459 shares of Reddit Inc., valued at $1,569,253 using the latest closing price.
Gale Mary Porter, the Director of Reddit Inc., sale 20,000 shares at $53.48 during a trade that took place back on Aug 13 ’24, which means that Gale Mary Porter is holding 51,459 shares at $1,069,644 based on the most recent closing price.
Stock Fundamentals for RDDT
Current profitability levels for the company are sitting at:
- -0.65 for the present operating margin
- 0.88 for the gross margin
The net margin for Reddit Inc. stands at -0.58. The total capital return value is set at -0.33. 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 1.26.
Currently, EBITDA for the company is -126.46 million with net debt to EBITDA at 0.7. When we switch over and look at the enterprise to sales, we see a ratio of 8.59. The receivables turnover for the company is 3.79for trailing twelve months and the total asset turnover is 0.47. The liquidity ratio also appears to be rather interesting for investors as it stands at 12.42.
Conclusion
In conclusion, Reddit Inc. (RDDT) has seen mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it 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.
