Wall Street Analyst Downgrade Rocket Companies Inc. [RKT]. What else is Wall St. saying

Rocket Companies Inc. [NYSE: RKT] closed the trading session at $10.38 on 08/10/22. The day’s price range saw the stock hit a low of $9.805, while the highest price level was $10.38. The company report on August 10, 2022 that /C O R R E C T I O N — Rocket Companies, Inc./.


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In the news release, Rocket Companies Announces Second Quarter Results, issued 04-Aug-2022 by Rocket Companies, Inc. over PR Newswire, in the first table titled “Second Quarter Financial Summary,” the amount for “Q2-22” in row “Adjusted Revenue” should read “1,125” rather than “25” as incorrectly transcribed by PR Newswire. The complete, corrected release follows:.

Generated Q2 net revenue of $1.4 billion and net income of $60 million.

The stocks have a year to date performance of -20.19 percent and weekly performance of 1.27 percent. The stock has been moved at -10.75 percent over the last six months. The stock has performed 18.63 percent around the most recent 30 days and changed 32.91 percent over the most recent 3-months.

If compared to the average trading volume of 3.82M shares, RKT reached to a volume of 3508058 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 $8.74 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.

Keefe Bruyette have made an estimate for Rocket Companies Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on August 08, 2022. The new note on the price target was released on July 06, 2022, representing the official price target for Rocket Companies Inc. stock. On May 16, 2022, analysts decreased their price target for RKT shares from 10 to 7.

The Average True Range (ATR) for Rocket Companies Inc. is set at 0.54, with the Price to Sales ratio for RKT stock in the period of the last 12 months amounting to 1.87. The Price to Book ratio for the last quarter was 2.33, with the Price to Cash per share for the same quarter was set at 1.14. Price to Free Cash Flow for RKT in the course of the last twelve months was 2.77.

RKT stock trade performance evaluation

Rocket Companies Inc. [RKT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.27. With this latest performance, RKT shares gained by 18.63% in over the last four-week period, additionally sinking by -10.75% over the last 6 months – not to mention a drop of -35.86% 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 64.20, with the RSI for the last a single of trading hit 65.71, and the three-weeks RSI is set at 61.81 for Rocket Companies Inc. [RKT]. The present Moving Average for the last 50 days of trading for this stock 8.57, while it was recorded at 9.93 for the last single week of trading, and 11.63 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 $840 million, or 68.10% 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 4.60% of the total institutional ownership; VANGUARD GROUP INC, holding 10,028,437 shares of the stock with an approximate value of $104.09 million in RKT stocks shares; and CALEDONIA (PRIVATE) INVESTMENTS PTY LTD, currently with $96.66 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 August and at the time of the August reporting period, where 127 institutional holders increased their position in Rocket Companies Inc. [NYSE:RKT] by around 14,257,373 shares. Additionally, 120 investors decreased positions by around 8,762,336 shares, while 46 investors held positions by with 57,942,720 shares. The mentioned changes placed institutional holdings at 80,962,429 shares, according to the latest SEC report filing. RKT stock had 44 new institutional investments in for a total of 1,207,229 shares, while 56 institutional investors sold positions of 4,124,731 shares during the same period.

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