Reddit Inc (NYSE:RDDT) has seen 1.93 million shares traded in the recent trading session. The company, currently valued at $34.08B, closed the recent trade at $194.12 per share which meant it gained $13.29 on the day or 7.35% during that session. The RDDT stock price is 1.61% off its 52-week high price of $191.00 and 80.76% above the 52-week low of $37.35. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.51 million shares traded. The 3-month trading volume is 6.93 million shares.
The consensus among analysts is that Reddit Inc (RDDT) is Buy stock at the moment, with a recommendation rating of 1.82. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 5 out of 12 have rated it as a Hold, with 6 advising it as a Buy. 0 have rated the stock as Underweight.
Reddit Inc (NYSE:RDDT) trade information
Sporting 7.35% in the green today, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the RDDT stock price touched $194.12 or saw a fall of -1.9%. Year-to-date, Reddit Inc shares have moved 18.77%, while the 5-day performance has seen it change 3.08%. Over the past 30 days, the shares of Reddit Inc (NYSE:RDDT) have changed 9.42%. Short interest in the company has seen 18.25 million shares shorted with days to cover at 2.98.
Wall Street analysts have a consensus price target for the stock at $102, which means that the shares’ value could drop -90.31% from the levels at last check today. The projected low price target is $67.0 while the price target rests at a high of $200.0. In that case, then, we find that the latest price level in today’s session is -3.03% off the targeted high while a plunge would see the stock lose 65.49% from the levels at last check today.
Reddit Inc (RDDT) estimates and forecasts
The company’s shares have gained 211.30% over the past 6 months, compared to 25.70% for the industry.
RDDT Dividends
Reddit Inc is expected to release its next earnings report in February this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Reddit Inc (NYSE:RDDT)’s Major holders
Insiders own 21.70% of the company shares, while shares held by institutions stand at 68.55% with a share float percentage of 87.55%. Investors are also buoyed by the number of investors in a company, with Reddit Inc having a total of 399.0 institutions that hold shares in the company. The top two institutional holders are INCLUSIVE CAPITAL PARTNERS, L.P. with over 2.09 million shares worth more than $133.49 million. As of 2024-06-30, INCLUSIVE CAPITAL PARTNERS, L.P. held 1.2711% of shares outstanding.
The other major institutional holder is T. ROWE PRICE INVESTMENT MANAGEMENT, INC., with the holding of over 1.65 million shares as of 2024-06-30. The firm’s total holdings are worth over $105.23 million and represent 1.002% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Fidelity OTC Portfolio and Fidelity Contrafund Inc. As of Nov 30, 2024, the former fund manager holds about 2.22% shares in the company for having 2.66 shares of worth $517.36 million while later fund manager owns 2.33 shares of worth $453.37 million as of Nov 30, 2024, which makes it owner of about 1.95% of company’s outstanding stock.
