Rocket Companies (RKT) Doesn’t Look Good For Analysts

The RKT stock price fluctuated between $18.16 and $19.55 throughout the trading session with the volume trading being 22M shares, which represented a positive variation when compared to the three months average volume of 8M shares.

The share price of Rocket Companies, Inc. (NYSE:RKT) ran up 10.25% to close Saturday’s market session at $19.26, higher as compared to yesterday’s close which brings the market valuation of the company to $34.68B.

The 52-week high for the Rocket Companies, Inc.’s shares is $43.00. That puts it -55.21% from that peak but still a 1.16% 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 32.11%.

The company currently has a 6.84 P/E ratio and a price target of $19.62.

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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 8M, while in the last 10 days the average was 6.86M and last three months – 7.7M.

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 14.95M shares being shorted which translates into 2.85 of a short ratio for RKT, while in the previous month the shorted shares were 13.82M.

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

With a market cap of 34.68B, Rocket Companies, Inc. holds a total cash of $2.88B that translates into $21.2 per share, while the total debt is of $25.61B.

The company has seen a decrease in the revenue with a year-over-year quarterly revenue growth percentage of -46.30%. The current revenue is of $16.87B that is $124.07 per share.

This is a not so good sign for the future.