Rocket Companies Inc. [RKT] is -0.55% lower this YTD. Is it still time to buy?

Rocket Companies Inc. [NYSE: RKT] loss -1.13% or -0.22 points to close at $19.22 with a heavy trading volume of 6570457 shares. The company report on June 17, 2021 that The University of Windsor Partners with Rocket Innovation Studio, Unveils Program Preparing Students for High-Demand Tech Jobs.

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The University of Windsor (UWindsor) unveiled a partnership with Rocket Innovation Studio, an innovative downtown Windsor-based technology leader, to create a pipeline of highly trained professionals who will thrive for years to come in the region’s tech careers.

Rocket Innovation Studio will deliver a series of workshops, beginning this month, for students in the Master of Applied Computing (MAC) program. The workshops will focus exclusively on financial technology (FinTech), a rapidly growing field in Ontario.

It opened the trading session at $19.35, the shares rose to $19.63 and dropped to $18.865, the range by which the price of stock traded the whole day. The daily chart for RKT points out that the company has recorded -10.23% loss over the past six months. However, it is still -18.5% lower than its most recent low trading price.

If we look at the average trading volume of 10.76M shares, RKT reached to a volume of 6570457 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Rocket Companies Inc. [RKT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RKT shares is $20.31 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RKT stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Rocket Companies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 08, 2021. While these analysts kept the previous recommendation, Argus raised their target price to Buy. The new note on the price target was released on June 08, 2021, representing the official price target for Rocket Companies Inc. stock. Previously, the target price had yet another drop from $27 to $24, while BofA Securities kept a Neutral rating on RKT stock.

The Average True Range (ATR) for Rocket Companies Inc. is set at 0.98, with the Price to Sales ratio for RKT stock in the period of the last 12 months amounting to 2.01. The Price to Book ratio for the last quarter was 4.00, with the Price to Cash per share for the same quarter was set at 1.42.

Trading performance analysis for RKT stock

Rocket Companies Inc. [RKT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.28. With this latest performance, RKT shares gained by 11.55% in over the last four-week period, additionally sinking by -10.23% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RKT stock in for the last two-week period is set at 46.47, with the RSI for the last a single of trading hit 43.45, and the three-weeks RSI is set at 46.74 for Rocket Companies Inc. [RKT]. The present Moving Average for the last 50 days of trading for this stock 20.01, while it was recorded at 19.67 for the last single week of trading, and 21.36 for the last 200 days.

Rocket Companies Inc. [RKT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Rocket Companies Inc. [RKT] shares currently have an operating margin of +65.76 and a Gross Margin at +99.51. Rocket Companies Inc.’s Net Margin is presently recorded at +1.31.

Return on Total Capital for RKT is now 36.63, given the latest momentum, and Return on Invested Capital for the company is 0.98. Return on Equity for this stock inclined to 10.46, with Return on Assets sitting at 0.69. When it comes to the capital structure of this company, Rocket Companies Inc. [RKT] has a Total Debt to Total Equity ratio set at 5,599.09. Additionally, RKT Total Debt to Total Capital is recorded at 98.25, with Total Debt to Total Assets ending up at 73.17. Long-Term Debt to Equity for the company is recorded at 4,409.28, with the Long-Term Debt to Total Capital now at 77.37.

Receivables Turnover for the company is 32.15 with a Total Asset Turnover recorded at a value of 0.53.

Rocket Companies Inc. [RKT]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RKT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Rocket Companies Inc. go to 43.66%.

An analysis of insider ownership at Rocket Companies Inc. [RKT]

There are presently around $1,401 million, or 53.90% of RKT stock, in the hands of institutional investors. The top three institutional holders of RKT stocks are: CALEDONIA (PRIVATE) INVESTMENTS PTY LTD with ownership of 9,548,827, which is approximately 0% of the company’s market cap and around 1.64% of the total institutional ownership; VANGUARD GROUP INC, holding 6,376,505 shares of the stock with an approximate value of $122.56 million in RKT stocks shares; and INVESCO LTD., currently with $107.96 million in RKT stock with ownership of nearly -47.469% of the company’s market capitalization.

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Positions in Rocket Companies Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 156 institutional holders increased their position in Rocket Companies Inc. [NYSE:RKT] by around 16,315,405 shares. Additionally, 144 investors decreased positions by around 27,411,415 shares, while 19 investors held positions by with 29,167,577 shares. The mentioned changes placed institutional holdings at 72,894,397 shares, according to the latest SEC report filing. RKT stock had 80 new institutional investments in for a total of 8,910,352 shares, while 63 institutional investors sold positions of 8,121,409 shares during the same period.

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