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Insider Trading At Redfin Corporation (NASDAQ: RDFN): What Did We Note?

Redfin Corporation (NASDAQ:RDFN) traded at $7.05 at close of the session on Wednesday, September 21, made an upward move of 0.79% on its previous day’s price.

Looking at the stock we see that its previous close was $7.00 and the beta (5Y monthly) reads 1.90 with the day’s price range being $6.96 – $7.31. In terms of its 52-week price range, RDFN has a high of $55.87 and a low of $6.96. The company’s stock has lost about -30.35% over that past 30 days.

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Redfin Corporation has a market cap of $832.23 million and is expected to release its quarterly earnings report on Nov 02, 2022 – Nov 07, 2022. Estimates by analysts give the company expected earnings per share (EPS) of -$0.76, with the EPS growth for the year raised at -$2.89 for 2022 and -$1.79 for next year. These figures represent -158.00% and 38.10% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $607.83 million, with a low of $594.19 million and a high of $624.02 million. The median projection represents growth squeezing down to 13.60% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $2.4 billion, or 24.90% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the RDFN stock, short term indicators assign the stock an average of 100% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Looking further, we note the current price level is -14.54% off its SMA20 and -23.90% from its 50-day simple moving average. The RSI (14) is pointing at 35.04 while the volatility over the past week is 5.92% and jumps to 5.84% over the past one month. The beta value is 1.89, while the average true range (ATR) is currently pointing at 0.62.

Let’s briefly compare Redfin Corporation (RDFN) stock to its peers. We find that current price change of 0.79% and -86.20% over the past 12 months for RDFN competes that of CoStar Group Inc. (CSGP), which has seen its stock price rise 1.16% in the last trading session and was -20.22% over the last one year. Another of its peers Zillow Group Inc. (ZG) has dropped -0.34% previous session, and was -66.23% down over the past year, while Zillow Group Inc. (Z) was also down -0.65% in the last session, while its price remained in the red at -66.36% over the same period. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 0.57% and 0.58%, respectively, at close of the trading.

Coming back to Redfin Corporation (NASDAQ:RDFN), we note that the average 3-month trading volume was 3.19 million, while that of the preceding 10-day period stands at 3.83 million. Current shares outstanding are 107.40 million.

The insiders hold 2.20% of the company’s shares while institutions hold 92.00%. The data shows that short shares as of Aug 30, 2022, stood at 13.62 million at a short ratio of 3.82. This represents a 12.56% short interest in shares outstanding on Aug 30, 2022. Shares short fall in August from the previous month at 15.8 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -81.77% down in year-to-date price movement.

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