Rocket Companies Inc. [RKT] gain 38.43% so far this year. What now?

Rocket Companies Inc. [NYSE: RKT] traded at a low on 02/06/23, posting a -5.83 loss after which it closed the day’ session at $9.69. The company report on January 31, 2023 that Q2 Announces Fourth Capital as Its First Bank Partner to Offer Rocket Mortgage’s Digital Home Loan Process.

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Powered by Q2, Fourth Capital can now provide clients with easy access to Rocket Mortgage directly from the bank’s mobile app and online banking experience.

Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital transformation solutions for banking and lending, today announced that Fourth Capital Bank – a Nashville, TN-based community bank – now offers Rocket Mortgage’s best-in-class digital home loan application process solution through integration with Q2’s digital banking platform. It is the first bank to launch the integration between Rocket Mortgage and the bank’s own mobile app and online banking experience.

The results of the trading session contributed to over 5440933 shares changing hands. Over the past one week, the price volatility of Rocket Companies Inc. stands at 7.35% while the volatility over the past one month is 5.47%.

The market cap for RKT stock reached $20.01 billion, with 115.37 million shares outstanding and 114.09 million shares in the current float. Compared to the average trading volume of 3.15M shares, RKT reached a trading volume of 5440933 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $7.40 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 3.20. 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.

Credit Suisse have made an estimate for Rocket Companies Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 09, 2023. The new note on the price target was released on November 16, 2022, representing the official price target for Rocket Companies Inc. stock. Previously, the target price had yet another drop from $11 to $8.50, while JP Morgan kept a Neutral rating on RKT stock.

The Average True Range (ATR) for Rocket Companies Inc. is set at 0.53, with the Price to Sales ratio for RKT stock in the period of the last 12 months amounting to 2.46. The Price to Book ratio for the last quarter was 2.07, with the Price to Cash per share for the same quarter was set at 0.40. Price to Free Cash Flow for RKT in the course of the last twelve months was 1.44.

How has RKT stock performed recently?

Rocket Companies Inc. [RKT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.53. With this latest performance, RKT shares gained by 32.02% in over the last four-week period, additionally sinking by -2.61% over the last 6 months – not to mention a drop of -11.83% 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 60.71, with the RSI for the last a single of trading hit 58.32, and the three-weeks RSI is set at 60.82 for Rocket Companies Inc. [RKT]. The present Moving Average for the last 50 days of trading for this stock 8.26, while it was recorded at 9.98 for the last single week of trading, and 8.16 for the last 200 days.

Rocket Companies Inc. [RKT]: Deeper insight into the 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.

Insider trade positions for Rocket Companies Inc. [RKT]

There are presently around $763 million, or 65.20% of RKT stock, in the hands of institutional investors. The top three institutional holders of RKT stocks are: VANGUARD GROUP INC with ownership of 10,074,855, which is approximately -3.589% of the company’s market cap and around 5.90% of the total institutional ownership; CALEDONIA (PRIVATE) INVESTMENTS PTY LTD, holding 9,253,487 shares of the stock with an approximate value of $89.67 million in RKT stocks shares; and INVESCO LTD., currently with $80.95 million in RKT stock with ownership of nearly -0.695% of the company’s market capitalization.

Positions in Rocket Companies Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 104 institutional holders increased their position in Rocket Companies Inc. [NYSE:RKT] by around 8,206,041 shares. Additionally, 124 investors decreased positions by around 11,449,816 shares, while 38 investors held positions by with 59,130,604 shares. The mentioned changes placed institutional holdings at 78,786,461 shares, according to the latest SEC report filing. RKT stock had 37 new institutional investments in for a total of 2,501,037 shares, while 42 institutional investors sold positions of 1,258,251 shares during the same period.


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