In the latest trading session, 1.15 million Rocket Companies Inc (NYSE:RKT) shares changed hands as the company’s beta touched 2.27. With the company’s most recent per share price at $15.44 changed hands at -$0.27 or -1.75% at last look, the market valuation stands at $30.81B. RKT’s current price is a discount, trading about -38.47% off its 52-week high of $21.38. The share price had its 52-week low at $10.06, which suggests the last value was 34.84% up since then. When we look at Rocket Companies Inc’s average trading volume, we note the 10-day average is 10.8 million shares, with the 3-month average coming to 4.80 million.
Analysts gave the Rocket Companies Inc (RKT) stock a consensus recommendation rating of Hold, calculated at a mean rating of 3.43. If we narrow down to specifics, the data shows that 2 out of 10 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 7 recommended RKT as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Rocket Companies Inc’s EPS for the current quarter is expected to be 0.05.
Rocket Companies Inc (NYSE:RKT) trade information
Instantly RKT was in red as seen in intraday trades today. With action 17.11%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 37.08%, with the 5-day performance at 17.11% in the green. However, in the 30-day time frame, Rocket Companies Inc (NYSE:RKT) is 17.82% up. Looking at the short shares, we see there were 21.43 million shares sold at short interest cover period of 5.9 days.
The consensus price target for the stock as assigned by Wall Street analysts is 18, meaning bulls need an upside of 14.22% from its recent market value. According to analyst projections, RKT’s forecast low is 18 with 18 as the target high. To hit the forecast high, the stock’s price needs a -16.58% plunge from its current level, while the stock would need to soar -16.58% for it to hit the projected low.
Rocket Companies Inc (RKT) estimates and forecasts
Year-over-year growth is forecast to reach 21.56% up from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of 1.26B. 4 analysts are of the opinion that Rocket Companies Inc’s revenue for the current quarter will be 1.5B. The company’s revenue for the corresponding quarters a year ago was 1.16B and 1.23B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 8.62%. The estimates for the next quarter sales put growth at 22.43%.
Rocket Companies Inc (NYSE:RKT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 7.35% of Rocket Companies Inc shares while 75.07% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 81.02%. There are 75.07% institutions holding the Rocket Companies Inc stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 8.8303% of the shares, roughly 12.1 million RKT shares worth $165.73 million.
FMR LLC holds the second largest percentage of outstanding shares, with 8.1474% or 11.16 million shares worth $152.91 million as of 2024-06-30.
Among Mutual Funds, the top two as of Dec 31, 2024 were John Hancock Fds III-Disciplined Value Mid Cap Fd and College Retirement Equities Fund-Growth Account. With 8.96 shares estimated at $137.52 million under it, the former controlled 6.08% of total outstanding shares. On the other hand, College Retirement Equities Fund-Growth Account held about 3.38% of the shares, roughly 4.98 shares worth around $76.39 million.
