Rocket Companies, Inc. (NYSE:RKT) With a Growing Short Interest


During the last session 9M of Rocket Companies, Inc.’s (NYSE:RKT) shares were traded. The stock closed at $17.89 per share indicating that it gained $0.65 or 3.77% during that day which brings the Rocket Companies, Inc.’s valuation to $35.52B.

The 52-week high for the Rocket Companies, Inc.’s shares is $43.00. That puts it -58.4% from that peak but still a -19.85% gain since the share price dropped to a 52-week low of $16.22, while the S&P 500’s share price change was of 33.41%.

The company currently has a 7.54 P/E ratio and a price target of $19.62.

What does the trading volume tell us about the RKT stock?

During the last trading session, Rocket Companies, Inc. (NYSE:RKT) has seen decay in its daily volume. The daily volume was of 9M, while in the last 10 days the average was 3.17M and last three months – 9.04M.
The decreasing interest in the RKT stock from the investors is helping to drive the stock price down.


Growing short interest

The Rocket Companies, Inc.’s shares are seeing an increasing short interest compared to the previous month. As of today, there are 16.86M shares being shorted which translates into 2.51 of a short ratio for RKT, while in the previous month the shorted shares were 12.46M.

Rocket Companies, Inc. (NYSE:RKT)’s financials

With a market cap of 35.52B, Rocket Companies, Inc. holds a total cash of $3.63B that translates into $26.6 per share, while the total debt is of $23.92B.

The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 230.90%. The current revenue is of $19.23B that is $141.82 per share.
This is a great sign for a bright future.