Rocket Companies Inc. [RKT] Revenue clocked in at $13.18 billion, down -28.57% YTD: What’s Next?

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Rocket Companies Inc. [NYSE: RKT] gained 0.43% on the last trading session, reaching $9.29 price per share at the time. The company report on March 22, 2022 that Rocket Mortgage Steps Up to the Plate as Exclusive Mortgage Partner of Detroit Tigers and Presenting Sponsor of Opening Day.

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Collaboration includes unique foul pole branding and charitable element to support Connect 313 Fund’s mission to eliminate Detroit’s digital divide.

Rocket Mortgage, part of Rocket Companies (NYSE: RKT), along with the Detroit Tigers, today announced a robust, multi-year partnership – making the nation’s largest home lender the Exclusive Mortgage Partner of the Tigers. As part of the collaboration, Rocket Mortgage will also be the Presenting Sponsor of Detroit Tigers Opening Day at Comerica Park on April 8. Fans will participate in unique onsite activities and visit the ballpark for the first Opening Day at full capacity in two years.

Rocket Companies Inc. represents 115.37 million in outstanding shares, while the company has a total market value of $18.71 billion with the latest information. RKT stock price has been found in the range of $9.135 to $9.53.

If compared to the average trading volume of 5.73M shares, RKT reached a trading volume of 4857971 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 $12.77 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 2.90. 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.

BofA Securities have made an estimate for Rocket Companies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 22, 2022. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $17.50 to $15. The new note on the price target was released on January 19, 2022, representing the official price target for Rocket Companies Inc. stock. Previously, the target price had yet another raise to $14, while Wedbush analysts kept a Neutral rating on RKT stock.

The Average True Range (ATR) for Rocket Companies Inc. is set at 0.50, with the Price to Sales ratio for RKT stock in the period of the last 12 months amounting to 1.42. The Price to Book ratio for the last quarter was 1.85, with the Price to Cash per share for the same quarter was set at 1.06. Price to Free Cash Flow for RKT in the course of the last twelve months was 2.45.

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 -2.72. With this latest performance, RKT shares dropped by -11.61% in over the last four-week period, additionally sinking by -40.55% over the last 6 months – not to mention a drop of -54.34% in the past year of trading.

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 34.45, with the RSI for the last a single of trading hit 30.04, and the three-weeks RSI is set at 36.06 for Rocket Companies Inc. [RKT]. The present Moving Average for the last 50 days of trading for this stock 11.31, while it was recorded at 9.35 for the last single week of trading, and 14.89 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 +66.76 and a Gross Margin at +99.25. Rocket Companies Inc.’s Net Margin is presently recorded at +3.08.

Return on Equity for this stock inclined to 53.34, with Return on Assets sitting at 0.88.

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

There are presently around $680 million, or 61.40% of RKT stock, in the hands of institutional investors. The top three institutional holders of RKT stocks are: INVESCO LTD. with ownership of 10,298,814, which is approximately 9.984% of the company’s market cap and around 2.90% of the total institutional ownership; CALEDONIA (PRIVATE) INVESTMENTS PTY LTD, holding 9,312,452 shares of the stock with an approximate value of $86.14 million in RKT stocks shares; and VANGUARD GROUP INC, currently with $71.93 million in RKT stock with ownership of nearly -1.409% of the company’s market capitalization.

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 132 institutional holders increased their position in Rocket Companies Inc. [NYSE:RKT] by around 10,132,763 shares. Additionally, 120 investors decreased positions by around 9,112,055 shares, while 39 investors held positions by with 54,314,365 shares. The mentioned changes placed institutional holdings at 73,559,183 shares, according to the latest SEC report filing. RKT stock had 60 new institutional investments in for a total of 3,750,856 shares, while 41 institutional investors sold positions of 1,706,343 shares during the same period.