The stock of Rocket Companies Inc (RKT) has gone down by -5.94% for the week, with a -2.94% drop in the past month and a 35.89% rise in the past quarter. The volatility ratio for the week is 5.14%, and the volatility levels for the past 30 days are 4.42% for RKT. The simple moving average for the past 20 days is -2.65% for RKT’s stock, with a 34.48% simple moving average for the past 200 days.
Is It Worth Investing in Rocket Companies Inc (NYSE: RKT) Right Now?
Rocket Companies Inc (NYSE: RKT) has a higher price-to-earnings ratio of 246.27x compared to its average ratio. RKT has 36-month beta value of 2.45. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 10 as “hold,” and 5 as “sell.”
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The public float for RKT is 121.27M, and currently, short sellers hold a 13.04% ratio of that float. The average trading volume of RKT on September 24, 2024 was 3.39M shares.
RKT) stock’s latest price update
The stock of Rocket Companies Inc (NYSE: RKT) has increased by 1.75 when compared to last closing price of 18.83. Despite this, the company has experienced a -5.94% fall in its stock price over the last five trading sessions. marketwatch.com reported 2024-09-18 that Mortgage lenders are reporting an uptick in interest from homeowners looking for ways to extract equity from their houses through home-equity lines of credit as mortgage rates are poised to fall.
Analysts’ Opinion of RKT
Citigroup, on the other hand, stated in their research note that they expect to see RKT reach a price target of $10, previously predicting the price at $9. The rating they have provided for RKT stocks is “Sell” according to the report published on January 16th, 2024.
RKT Trading at 6.48% 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 -10.38% of loss for the given period.
Volatility was left at 4.42%, however, over the last 30 days, the volatility rate increased by 5.14%, as shares sank -7.93% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +33.71% upper at present.
During the last 5 trading sessions, RKT fell by -5.94%, which changed the moving average for the period of 200-days by +96.51% in comparison to the 20-day moving average, which settled at $19.60. In addition, Rocket Companies Inc saw 32.32% 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 RKT starting from Rizik Matthew, who purchase 318 shares at the price of $13.79 back on Jun 28 ’24. After this action, Rizik Matthew now owns 707,528 shares of Rocket Companies Inc, valued at $4,385 using the latest closing price.
Rizik Matthew, the Director of Rocket Companies Inc, purchase 316 shares at $13.80 during a trade that took place back on Jun 27 ’24, which means that Rizik Matthew is holding 707,210 shares at $4,361 based on the most recent closing price.
Stock Fundamentals for RKT
Current profitability levels for the company are sitting at:
- 0.13 for the present operating margin
- 0.97 for the gross margin
The net margin for Rocket Companies Inc stands at 0.0. The total capital return value is set at 0.03. Equity return is now at value 2.09, with 0.06 for asset returns.
Based on Rocket Companies Inc (RKT), the company’s capital structure generated 0.95 points at debt to capital in total, while cash flow to debt ratio is standing at -0.11. The debt to equity ratio resting at 19.99. The interest coverage ratio of the stock is 1.42.
Currently, EBITDA for the company is 67.35 million with net debt to EBITDA at 18.51. When we switch over and look at the enterprise to sales, we see a ratio of 3.44. The receivables turnover for the company is 301.87for trailing twelve months and the total asset turnover is 0.18.
Conclusion
To put it simply, Rocket Companies Inc (RKT) has had a mixed performance in recent times. Analysts have a bearish opinion on the stock, with some rating it as a “sell” 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.
