Investing in Rocket Companies Inc. (RKT): What You Must Know


In a filing, Rocket Companies Inc. revealed its Chief Executive Officer Farner Jay acquired Company’s shares for reported $0.2 million on Nov 04. In the deal valued at $6.32 per share,31,600 shares were bought. As a result of this transaction, Farner Jay now holds 5,194,507 shares worth roughly $ 32.78 million.

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Then, Rizik Matthew bought 3,400 shares, generating $21,522 in total proceeds. Upon buying the shares at $6.33, the Director now owns 474,402 shares.

Before that, Farner Jay bought 31,200 shares. Rocket Companies Inc. shares valued at $199,992 were divested by the Chief Executive Officer at a price of $6.41 per share. As a result of the transaction, Farner Jay now holds 5,162,907 shares, worth roughly $32.58 million.

JP Morgan downgraded its Rocket Companies Inc. [RKT] rating to a Neutral from a an Overweight in a research note published on Friday, September 06, 2022; the price target was decreased to $8.50 from $11. PT values the company’s stock at a premium of 25.76 to its Friday closing price. A number of analysts have revised their coverage, including Keefe Bruyette’s analysts, who decreased its forecast for the stock in early August from “a Mkt perform” to “an Underperform”. Wells Fargo also remained covering RKT and has increased its forecast on July 06, 2022 with a “an Overweight” recommendation from previously “an Equal weight” rating. Argus revised its rating on May 31, 2022. It rated RKT as “a Hold” which previously was an “a Buy”.

Price Performance Review of RKT

On Friday, Rocket Companies Inc. [NYSE:RKT] saw its stock fall -3.07% to $6.31. On the same session, the stock had its day’s lowest price of $6.19, but rose to a high of $6.51. Over the last five days, the stock has lost -5.96%. Rocket Companies Inc. shares have fallen nearly -51.48% since the year began. Nevertheless, the stocks have fallen -61.97% over the past one year. While a 52-week high of $16.84 was reached on 01/04/22, a 52-week low of $5.97 was recorded on 10/21/22. SMA at 50 days reached $7.06, while 200 days put it at $9.22. A total of 4.93 million shares were traded, compared to the trading of 3.15 million shares in the previous session.

Levels Of Support And Resistance For RKT Stock

The 24-hour chart illustrates a support level at 6.16, which if violated will result in even more drops to 6.02. On the upside, there is a resistance level at 6.48. A further resistance level may holdings at 6.66. The Relative Strength Index (RSI) on the 14-day chart is 40.66, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 73.85%. Stochastics %K at 38.97% indicates the stock is a holding.

How much short interest is there in Rocket Companies Inc.?

A steep rise in short interest was recorded in Rocket Companies Inc. stocks on Jul 14, 2022, growing by 1.18 million shares to a total of 33.6 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 32.42 million shares. There was a rise of 3.51%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 28.60% of the overall stock float, the days-to-cover ratio (short ratio) rose to 8.54.

Rocket Companies Inc. [RKT] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 10,300,373 shares, or roughly 8.92% of the outstanding RKT shares. In other words, the investor’s shares have risen by 437,484 from its previous 13-F filing of 9862889.0. Over the last quarter, SSgA Funds Management, Inc. purchased 122,916 shares of Rocket Companies Inc., while BlackRock Fund Advisors bought -1,571,579 shares. At present, Davis Selected Advisers LP is holding 4,103,414 shares valued at $25.93 million. Renaissance Technologies LLC owned 2,435,000 shares of the company at the time of its most recent 13F filing, worth $15.39 million.

According to FactSet, Rocket Companies Inc.’s share price will average $7.23 in the next year, based on opinions of analysts polled by the firm. This is up nearly 7.53 percent from its previous closing price of $6.51. Analysts expect Rocket Companies Inc. stock to reach the higher price of $9.50, while the lowest price estimate is $4.50. However, 17 analysts have rated RKT stock as a Hold in their predictions for 2022.


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