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


Rocket Companies Inc.’s recent filing unveils that its Director Rizik Matthew acquired Company’s shares for reported $13900.0 on Dec 27. In the deal valued at $6.95 per share,2,000 shares were bought. As a result of this transaction, Rizik Matthew now holds 571,502 shares worth roughly $ 4.5 million.

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Then, Rizik Matthew bought 2,900 shares, generating $21,170 in total proceeds. Upon buying the shares at $7.30, the Director now owns 569,502 shares.

Before that, Rizik Matthew bought 3,000 shares. Rocket Companies Inc. shares valued at $21,930 were divested by the Director at a price of $7.31 per share. As a result of the transaction, Rizik Matthew now holds 566,602 shares, worth roughly $4.46 million.

Credit Suisse downgraded its Rocket Companies Inc. [RKT] rating to an Underperform from a a Neutral in a research note published on Friday. PT values the company’s stock at a premium of -12.43 to its Friday closing price. A number of analysts have revised their coverage, including Argus’s analysts, who decreased its forecast for the stock in mid November from “a Hold” to “a Sell”. JP Morgan also remained covering RKT and has decreased its forecast on September 06, 2022 with a “Neutral” recommendation from previously “an Overweight” rating. Keefe Bruyette revised its rating on August 08, 2022. It rated RKT as “an Underperform” which previously was an “a Mkt perform”.

Price Performance Review of RKT

On Friday, Rocket Companies Inc. [NYSE:RKT] saw its stock fall -2.36% to $7.87. On the same session, the stock had its day’s lowest price of $7.8025, but rose to a high of $7.9401. Over the last five days, the stock has lost -12.75%. Rocket Companies Inc. shares have risen nearly 12.43% since the year began. Nevertheless, the stocks have fallen -23.54% over the past one year. While a 52-week high of $13.30 was reached on 02/02/23, a 52-week low of $5.97 was recorded on 01/03/23. SMA at 50 days reached $8.41, while 200 days put it at $8.14. A total of 2.08 million shares were traded, compared to the trading of 1.85 million shares in the previous session.

Levels Of Support And Resistance For RKT Stock

The 24-hour chart illustrates a support level at 7.80, which if violated will result in even more drops to 7.73. On the upside, there is a resistance level at 7.94. A further resistance level may holdings at 8.01. The Relative Strength Index (RSI) on the 14-day chart is 36.02, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.82, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.05%. Stochastics %K at 3.16% indicates the stock is a buying.

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

A steep rise in short interest was recorded in Rocket Companies Inc. stocks on Jan 12, 2023, dropping by -0.11 million shares to a total of 35.95 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 36.06 million shares. There was a decline of -0.31%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 29.77% of the overall stock float, the days-to-cover ratio (short ratio) fell to 13.03.

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

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 10,713,723 shares, or roughly 8.80% of the outstanding RKT shares. In other words, the investor’s shares have risen by 781,472 from its previous 13-F filing of 9932251.0. Additionally, Caledonia increased 14.50% of its stake after which the total value it holdings stand at $99,700,399, while Invesco Advisers, Inc. reduced -26.51% of its stake to hold $53.93 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 428,259 shares of Rocket Companies Inc., while Davis Selected Advisers LP bought -252,630 shares. At present, Morgan Stanley & Co. LLC is holding 2,794,948 shares valued at $26.3 million. Capital Research & Management Co owned 2,416,096 shares of the company at the time of its most recent 13F filing, worth $22.74 million.

According to FactSet, Rocket Companies Inc.’s share price will average $7.44 in the next year, based on opinions of analysts polled by the firm. This is down nearly -10.05 percent from its previous closing price of $8.06. Analysts expect Rocket Companies Inc. stock to reach the higher price of $10.00, while the lowest price estimate is $6.00. However, 17 analysts have rated RKT stock as a Hold in their predictions for 2023.


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