Rocket Companies Inc (NYSE:RKT) price on Thursday, May 22, rose 2.70% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $12.57.
A look at the stock’s price movement, the close in the last trading session was $12.24. Turning to its 52-week performance, $20.23 and $9.52 were the 52-week high and 52-week low respectively. Overall, RKT moved 3.88% over the past month.
Rocket Companies Inc’s market cap currently stands at around $25.14 billion, with investors looking forward to this quarter’s earnings report slated for in June.
Analysts have a consensus estimate of 1.28B for the company’s revenue for the quarter, with a low and high estimate of 1.23B and 1.31B respectively. The average forecast suggests up to a 4.42% 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 5.43B, representing a 10.81% 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 50% Sell. 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 1.23% and -2.64% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 50.24, while 7-day volatility ratio is 4.54% and 3.64% in the 30-day chart. Further, Rocket Companies Inc (RKT) has a beta value of 2.29, and an average true range (ATR) of 0.79. Analysts have given the company’s stock an average 52-week price target of $16, forecast between a low of $16 and high of $16. Looking at the price targets, the low is -27.29% off current price level while to achieve the yearly target high, price needs to move -27.29%. Nonetheless, investors will most likely welcome a -27.29% jump to $16 which is the analysts’ median price.
If we refocus on Rocket Companies Inc (NYSE:RKT), historical trading data shows that trading volumes averaged 12.97 million over the past 3 months. The company’s latest data on shares outstanding shows there are 150.15 million shares.
The 8.53% of Rocket Companies Inc’s shares are in the hands of company insiders while institutional holders own 92.88% of the company’s shares. Current price change has pushed the stock 17.97% 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.