Rocket Companies Inc. [RKT] moved up 4.47: Why It’s Important


Rocket Companies Inc. [NYSE: RKT] gained 4.47% or 0.36 points to close at $8.41 with a heavy trading volume of 9424384 shares. 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.

It opened the trading session at $8.68, the shares rose to $9.11 and dropped to $8.36, the range by which the price of stock traded the whole day. The daily chart for RKT points out that the company has recorded -38.54% loss over the past six months. However, it is still -34.13% lower than its most recent low trading price.

If we look at the average trading volume of 4.43M shares, RKT reached to a volume of 9424384 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 $8.42 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 3.00. 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.

Wells Fargo have made an estimate for Rocket Companies Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 06, 2022. The new note on the price target was released on May 31, 2022, representing the official price target for Rocket Companies Inc. stock. Previously, the target price had yet another drop from $10 to $7, while Keefe Bruyette kept a Mkt Perform rating on RKT stock. On May 11, 2022, analysts decreased their price target for RKT shares from 14 to 8.

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 1.89, with the Price to Cash per share for the same quarter was set at 1.21.

Trading performance analysis for RKT stock

Rocket Companies Inc. [RKT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.80. With this latest performance, RKT shares dropped by -1.41% in over the last four-week period, additionally sinking by -38.54% over the last 6 months – not to mention a drop of -51.74% 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 57.90, with the RSI for the last a single of trading hit 66.34, and the three-weeks RSI is set at 52.90 for Rocket Companies Inc. [RKT]. The present Moving Average for the last 50 days of trading for this stock 8.25, while it was recorded at 7.73 for the last single week of trading, and 12.48 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 $647 million, or 68.40% of RKT stock, in the hands of institutional investors. The top three institutional holders of RKT stocks are: INVESCO LTD. with ownership of 10,789,221, which is approximately 4.762% of the company’s market cap and around 4.10% of the total institutional ownership; VANGUARD GROUP INC, holding 10,028,437 shares of the stock with an approximate value of $80.73 million in RKT stocks shares; and CALEDONIA (PRIVATE) INVESTMENTS PTY LTD, currently with $74.97 million in RKT stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Rocket Companies Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 128 institutional holders increased their position in Rocket Companies Inc. [NYSE:RKT] by around 15,004,442 shares. Additionally, 126 investors decreased positions by around 8,254,708 shares, while 44 investors held positions by with 57,118,265 shares. The mentioned changes placed institutional holdings at 80,377,415 shares, according to the latest SEC report filing. RKT stock had 44 new institutional investments in for a total of 2,310,058 shares, while 60 institutional investors sold positions of 3,678,116 shares during the same period.