In today’s recent session, 2.36 million shares of the Rocket Companies Inc (NYSE:RKT) have been traded, and its beta is 2.43. Most recently the company’s share price was $12.10, and it changed around -$0.7 or -5.47% from the last close, which brings the market valuation of the company to $24.14B. RKT at last check was trading at a discount to its 52-week high of $21.38, offering almost -76.69% off that amount. The share price’s 52-week low was $10.06, which indicates that the recent value has risen by an impressive 16.86% since then. We note from Rocket Companies Inc’s average daily trading volume that its 10-day average is 2.9 million shares, with the 3-month average coming to 3.38 million.
Rocket Companies Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.43. If we narrow it down even further, the data shows that 0 out of 15 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 12 recommended RKT as a Hold, whereas 0 deemed it a Buy, and 3 rated it as Underweight. Rocket Companies Inc is expected to report earnings per share of 0.03 for the current quarter.
Rocket Companies Inc (NYSE:RKT) trade information
Instantly RKT has been showing red trend so far today with a performance of -5.47% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 13.24 on recent trading dayincreased the stock’s daily price by 8.61%. The company’s shares are currently up 7.46% year-to-date, but still down -4.72% over the last five days. On the other hand, Rocket Companies Inc (NYSE:RKT) is 16.12% up in the 30-day period. We can see from the shorts that 19.53 million shares have been sold at a short interest cover period of 6.08 day(s).
The consensus price target as assigned by Wall Street analysts is $18, which translates to bulls needing to increase their stock price by 32.78% from its current value. Analyst projections state that RKT is forecast to be at a low of $16 and a high of $20.
Rocket Companies Inc (RKT) estimates and forecasts
The year-over-year growth rate is expected to be 28.41%, up from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of 1.15B in revenue for the current quarter. 2 analysts expect Rocket Companies Inc to make 1.33B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 885M and 1.16B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 29.89%. Forecasts for the next quarter put sales growth at 14.45%.
Rocket Companies Inc (NYSE:RKT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 6.96% of Rocket Companies Inc shares, and 74.08% of them are in the hands of institutional investors. The stock currently has a share float of 79.63%. Rocket Companies Inc stock is held by 343.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 8.8303% of the shares, which is about 12.1 million shares worth $165.73 million.
FMR LLC, with 8.1474% or 11.16 million shares worth $152.91 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
John Hancock Fds III-Disciplined Value Mid Cap Fd and JPMorgan Mid Cap Growth Fund were the top two Mutual Funds as of Nov 30, 2024. The former held 7.49 shares worth $90.19 million, making up 5.13% of all outstanding shares. On the other hand, JPMorgan Mid Cap Growth Fund held roughly 4.82 shares worth around $58.01 million, which represents about 3.30% of the total shares outstanding.
