In the last trading session, 8.98 million shares of the Reddit Inc (NYSE:RDDT) were traded, and its beta was 2.63. Most recently the company’s share price was $124.94, and it changed around $9.24 or 7.99% from the last close, which brings the market valuation of the company to $22.60B. RDDT currently trades at a discount to its 52-week high of $230.41, offering almost -84.42% off that amount. The share price’s 52-week low was $37.35, which indicates that the current value has risen by an impressive 70.11% since then. We note from Reddit Inc’s average daily trading volume that its 10-day average is 10.69 million shares, with the 3-month average coming to 6.99 million.
Reddit Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.00. If we narrow it down even further, the data shows that 1 out of 22 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 7 recommended RDDT as a Hold, whereas 8 deemed it a Buy, and 1 rated it as Underweight.
Reddit Inc (NYSE:RDDT) trade information
Instantly RDDT has showed a green trend with a performance of 7.99% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 126.50 on recent trading dayincreased the stock’s daily price by 1.23%. The company’s shares are currently down -23.56% year-to-date, but still down -0.49% over the last five days. On the other hand, Reddit Inc (NYSE:RDDT) is -24.92% down in the 30-day period. We can see from the shorts that 14.65 million shares have been sold at a short interest cover period of 2.6 day(s).
The consensus price target as assigned by Wall Street analysts is $112, which translates to bulls needing to decrease their stock price by -11.55% from its current value. Analyst projections state that RDDT is forecast to be at a low of $75 and a high of $220.
Reddit Inc (NYSE:RDDT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 18.22% of Reddit Inc shares, and 83.46% of them are in the hands of institutional investors. The stock currently has a share float of 102.05%. Reddit Inc stock is held by 606.0 institutions, with FMR LLC being the largest institutional investor. By 2024-06-30, it held 1.8362% of the shares, which is about 3.02 million shares worth $192.85 million.
VANGUARD GROUP INC, with 1.4873% or 2.44 million shares worth $156.21 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
