Rocket Companies Inc. [RKT] is -39.95% lower this YTD. Is it still time to buy?

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Rocket Companies Inc. [NYSE: RKT] closed the trading session at $7.81 on 05/10/22. The day’s price range saw the stock hit a low of $7.61, while the highest price level was $8.445. The company report on May 10, 2022 that Rocket Companies Announces First Quarter Results.

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Generated Q1 net revenue of $2.7 billion and Adjusted Revenue of $1.9 billion1.

Delivered Q1 net income of $1.0 billion and Adjusted Net Income of $293 million1.

The stocks have a year to date performance of -39.95 percent and weekly performance of -15.84 percent. The stock has been moved at -50.11 percent over the last six months. The stock has performed -19.48 percent around the most recent 30 days and changed -32.85 percent over the most recent 3-months.

If compared to the average trading volume of 5.52M shares, RKT reached to a volume of 12171219 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $12.46 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 0.56, with the Price to Sales ratio for RKT stock in the period of the last 12 months amounting to 1.19. The Price to Book ratio for the last quarter was 1.56, 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 2.06.

RKT stock trade performance evaluation

Rocket Companies Inc. [RKT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.84. With this latest performance, RKT shares dropped by -19.48% in over the last four-week period, additionally sinking by -50.11% over the last 6 months – not to mention a drop of -50.95% 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 32.07, with the RSI for the last a single of trading hit 28.49, and the three-weeks RSI is set at 34.07 for Rocket Companies Inc. [RKT]. The present Moving Average for the last 50 days of trading for this stock 10.35, while it was recorded at 8.64 for the last single week of trading, and 14.26 for the last 200 days.

Rocket Companies Inc. [RKT]: An insightful look at the core fundamentals

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.

Rocket Companies Inc. [RKT]: Insider Ownership positions

There are presently around $626 million, or 61.90% 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 3.10% of the total institutional ownership; CALEDONIA (PRIVATE) INVESTMENTS PTY LTD, holding 9,312,452 shares of the stock with an approximate value of $78.22 million in RKT stocks shares; and VANGUARD GROUP INC, currently with $65.32 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 130 institutional holders increased their position in Rocket Companies Inc. [NYSE:RKT] by around 9,864,947 shares. Additionally, 119 investors decreased positions by around 9,423,727 shares, while 42 investors held positions by with 55,274,506 shares. The mentioned changes placed institutional holdings at 74,563,180 shares, according to the latest SEC report filing. RKT stock had 49 new institutional investments in for a total of 3,090,577 shares, while 46 institutional investors sold positions of 2,191,690 shares during the same period.