Rocket Companies Inc. [RKT] Revenue clocked in at $9.98 billion, down -48.25% YTD: What’s Next?

Rocket Companies Inc. [NYSE: RKT] price plunged by -0.15 percent to reach at -$0.01. The company report on October 3, 2022 that Rocket Companies Announces Executive Leadership Changes.

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Julie Booth to move from role as Chief Financial Officer and Treasurer to Strategic Advisor.

Angelo Vitale to transition from General Counsel and Secretary to “Of Counsel” role.

A sum of 4039969 shares traded at recent session while its average daily volume was at 3.10M shares. Rocket Companies Inc. shares reached a high of $6.925 and dropped to a low of $6.5712 until finishing in the latest session at $6.73.

The one-year RKT stock forecast points to a potential upside of 19.79. The average equity rating for RKT stock is currently 3.10, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $8.39 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 3.10. 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.

JP Morgan have made an estimate for Rocket Companies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 06, 2022. The new note on the price target was released on August 08, 2022, representing the official price target for Rocket Companies Inc. stock. Previously, the target price had yet another raise to $10, while Wells Fargo analysts kept a Overweight rating on RKT stock.

The Average True Range (ATR) for Rocket Companies Inc. is set at 0.40, with the Price to Sales ratio for RKT stock in the period of the last 12 months amounting to 1.38. The Price to Book ratio for the last quarter was 1.50, with the Price to Cash per share for the same quarter was set at 0.45. Price to Free Cash Flow for RKT in the course of the last twelve months was 1.18.

RKT Stock Performance Analysis:

Rocket Companies Inc. [RKT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.27. With this latest performance, RKT shares dropped by -16.81% in over the last four-week period, additionally sinking by -31.61% over the last 6 months – not to mention a drop of -52.09% 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 39.32, with the RSI for the last a single of trading hit 40.95, and the three-weeks RSI is set at 39.58 for Rocket Companies Inc. [RKT]. The present Moving Average for the last 50 days of trading for this stock 8.31, while it was recorded at 6.84 for the last single week of trading, and 9.90 for the last 200 days.

Rocket Companies Inc. [RKT] Insider Position Details

There are presently around $551 million, or 71.20% of RKT stock, in the hands of institutional investors. The top three institutional holders of RKT stocks are: VANGUARD GROUP INC with ownership of 10,449,882, which is approximately 4.202% of the company’s market cap and around 5.10% of the total institutional ownership; CALEDONIA (PRIVATE) INVESTMENTS PTY LTD, holding 9,312,452 shares of the stock with an approximate value of $62.67 million in RKT stocks shares; and INVESCO LTD., currently with $56.61 million in RKT stock with ownership of nearly -22.031% of the company’s market capitalization.

121 institutional holders increased their position in Rocket Companies Inc. [NYSE:RKT] by around 11,970,403 shares. Additionally, 114 investors decreased positions by around 10,439,595 shares, while 44 investors held positions by with 59,467,992 shares. The mentioned changes placed institutional holdings at 81,877,990 shares, according to the latest SEC report filing. RKT stock had 42 new institutional investments in for a total of 4,861,849 shares, while 43 institutional investors sold positions of 3,072,030 shares during the same period.


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