Rocket Companies Inc [NYSE: RKT] gained 2.34% or 0.34 points to close at $14.89 with a heavy trading volume of 4113473 shares.
The daily chart for RKT points out that the company has recorded 40.74% gains over the past six months.
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If we look at the average trading volume of 2.42M shares, RKT reached to a volume of 4113473 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 $11.71 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 3.64. 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.
Citigroup have made an estimate for Rocket Companies Inc shares, keeping their opinion on the stock as Sell, with their previous recommendation back on January 16, 2024. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Hold. The new note on the price target was released on January 10, 2024, representing the official price target for Rocket Companies Inc stock. Previously, the target price had yet another raise from $8.50 to $10.50, while JP Morgan kept a Underweight rating on RKT stock. On January 03, 2024, analysts increased their price target for RKT shares from 13 to 14.
The Average True Range (ATR) for Rocket Companies Inc is set at 0.62, with the Price to Sales ratio for RKT stock in the period of the last 12 months amounting to 0.54. The Price to Book ratio for the last quarter was 3.17, with the Price to Cash per share for the same quarter was set at 6.41.
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 2.41. With this latest performance, RKT shares gained by 3.26% in over the last four-week period, additionally plugging by 40.74% over the last 6 months – not to mention a rise of 63.63% 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 63.07, with the RSI for the last a single of trading hit 67.29, and the three-weeks RSI is set at 60.58 for Rocket Companies Inc [RKT]. The present Moving Average for the last 50 days of trading for this stock 13.38, while it was recorded at 14.52 for the last single week of trading, and 11.43 for the last 200 days.
An analysis of Institutional ownership at Rocket Companies Inc [RKT]
The top three institutional holders of RKT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in RKT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in RKT stock with ownership which is approximately 5.8386%.