Rocket Companies Inc (NYSE:RKT) shares, rose in value, with the stock price down by -0.92% to the previous day’s close as strong demand from buyers drove the stock to $12.95.
Actively observing the price movement in the last trading, the stock closed the session at $13.07. The value of beta (5-year monthly) was 2.37. Referring to stock’s 52-week performance, its high was $15.19, and the low was $7.17. On the whole, RKT has fluctuated by 2.86% over the past month.
With the market capitalization of Rocket Companies Inc currently standing at about $1.77 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.01, which is expected to increase to $0.1 for fiscal year $0.32 and then to about $0.57 by fiscal year 2025. Data indicates that the EPS growth is expected to be 557.10% in 2025, while the next year’s EPS growth is forecast to be 78.10%.
Analysts have estimated the company’s revenue for the quarter at $1.02 billion, with a low estimate of $911 million and a high estimate of $1.21 billion. According to the average forecast, sales growth in current quarter could jump up 52.80%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $4.88 billion, representing an increase of 28.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that RKT’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of RKT currently trading nearly -1.92% and 4.08% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.44, while the 7-day volatility ratio is showing 4.17% which for the 30-day chart, stands at 4.50%. Furthermore, Rocket Companies Inc (RKT)’s beta value is 2.42, and its average true range (ATR) is 0.59.
A comparison of Rocket Companies Inc (RKT) with its peers suggests the former has fared considerably weaker in the market. RKT showed an intraday change of -0.92% in last session, and over the past year, it grew by 40.00%%.
Data on historical trading for Rocket Companies Inc (NYSE:RKT) indicates that the trading volumes over the past 10 days have averaged 2.59 million and over the past 3 months, they’ve averaged 2.43 million. According to company’s latest data on outstanding shares, there are 135.81 million shares outstanding.
Nearly 12.65% of Rocket Companies Inc’s shares belong to company insiders and institutional investors own 62.27% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 17.94 million shares as on Mar 15, 2024, resulting in a short ratio of 7.16. According to the data, the short interest in Rocket Companies Inc (RKT) stood at 13.11% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 20.68 million. The stock has fallen by -10.57% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RKT stock heading into the next quarter.
