The stock price of Redfin Corp (NASDAQ: RDFN) has surged by 15.83 when compared to previous closing price of 11.50, but the company has seen a 43.07% gain in its stock price over the last five trading sessions. fool.com reported 2024-09-13 that Redfin has struggled due to high interest rates, which have put a damper on housing activity. In recent years, the real estate company has undergone changes to become more efficient and capitalize on the next housing market uptrend.
Is It Worth Investing in Redfin Corp (NASDAQ: RDFN) Right Now?
RDFN has 36-month beta value of 2.62. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 2 as “overweight,” 5 as “hold,” and 0 as “sell.”
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The public float for RDFN is 116.45M, and currently, short sellers hold a 17.71% ratio of that float. The average trading volume of RDFN on September 13, 2024 was 5.63M shares.
RDFN’s Market Performance
RDFN’s stock has seen a 43.07% increase for the week, with a 75.03% rise in the past month and a 106.51% gain in the past quarter. The volatility ratio for the week is 9.46%, and the volatility levels for the past 30 days are at 10.29% for Redfin Corp The simple moving average for the last 20 days is 35.69% for RDFN stock, with a simple moving average of 78.25% for the last 200 days.
Analysts’ Opinion of RDFN
Many brokerage firms have already submitted their reports for RDFN stocks, with B. Riley Securities repeating the rating for RDFN by listing it as a “Buy.” The predicted price for RDFN in the upcoming period, according to B. Riley Securities is $13 based on the research report published on September 03, 2024 of the current year 2024.
Stephens, on the other hand, stated in their research note that they expect to see RDFN reach a price target of $9, previously predicting the price at $8. The rating they have provided for RDFN stocks is “Overweight” according to the report published on May 08th, 2024.
Gordon Haskett gave a rating of “Underperform” to RDFN, setting the target price at $5.50 in the report published on February 29th of the current year.
RDFN Trading at 59.30% 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 able to rebound, for now settling with 12.93% of gains for the given period.
Volatility was left at 10.29%, however, over the last 30 days, the volatility rate increased by 9.46%, as shares surge +77.50% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +126.34% upper at present.
During the last 5 trading sessions, RDFN rose by +44.90%, which changed the moving average for the period of 200-days by +92.30% in comparison to the 20-day moving average, which settled at $10.11. In addition, Redfin Corp saw 29.07% 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 RDFN starting from Frey Bridget, who sale 17,039 shares at the price of $10.00 back on Aug 23 ’24. After this action, Frey Bridget now owns 442,914 shares of Redfin Corp, valued at $170,390 using the latest closing price.
BRIDGET FREY, the Officer of Redfin Corp, proposed sale 17,039 shares at $10.00 during a trade that took place back on Aug 23 ’24, which means that BRIDGET FREY is holding shares at $170,390 based on the most recent closing price.
Stock Fundamentals for RDFN
Current profitability levels for the company are sitting at:
- -0.16 for the present operating margin
- 0.33 for the gross margin
The net margin for Redfin Corp stands at -0.14. The total capital return value is set at -0.2. Equity return is now at value -744.57, with -10.99 for asset returns.
Based on Redfin Corp (RDFN), the company’s capital structure generated 1.01 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 -80.82. The interest coverage ratio of the stock is -12.14.
Currently, EBITDA for the company is -131.09 million with net debt to EBITDA at -6.93. When we switch over and look at the enterprise to sales, we see a ratio of 2.47. The receivables turnover for the company is 13.34for trailing twelve months and the total asset turnover is 0.85.
Conclusion
To put it simply, Redfin Corp (RDFN) has had a better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as 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.
