Rocket Companies Inc (NYSE:RKT) price on current trading day, fall -5.08% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $13.08.
A look at the stock’s price movement, the close in the last trading session was $13.78. Turning to its 52-week performance, $21.38 and $10.06 were the 52-week high and 52-week low respectively. Overall, RKT moved 2.67% over the past month.
Rocket Companies Inc’s market cap currently stands at around $26.09 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 1.15B for the company’s revenue for the quarter, with a low and high estimate of 1.1B and 1.18B respectively. The average forecast suggests up to a 29.89% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 4.84B, representing a 28.41% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that RKT is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
10 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 7 analyst(s) rate the stock as a Hold, 1 recommend RKT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 2 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
RKT’s current price about 1.84% and 8.61% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 53.81, while 7-day volatility ratio is 5.36% and 4.29% in the 30-day chart. Further, Rocket Companies Inc (RKT) has a beta value of 2.40, and an average true range (ATR) of 0.60. Analysts have given the company’s stock an average 52-week price target of $18, forecast between a low of $16 and high of $20. Looking at the price targets, the low is -22.32% off current price level while to achieve the yearly target high, price needs to move -52.91%. Nonetheless, investors will most likely welcome a -37.61% jump to $18 which is the analysts’ median price.
If we refocus on Rocket Companies Inc (NYSE:RKT), historical trading data shows that trading volumes averaged 3.16 million over the past 3 months. The company’s latest data on shares outstanding shows there are 144.92 million shares.
The 7.37% of Rocket Companies Inc’s shares are in the hands of company insiders while institutional holders own 71.11% of the company’s shares. Current price change has pushed the stock 16.16% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the RKT stock continues to rise going into the next quarter.
