Rocket Companies (NYSE:RKT) Shares Gap Down – Time to Sell?

Shares of Rocket Companies, Inc. (NYSE:RKT) gapped down prior to trading on Monday . The stock had previously closed at $15.77, but opened at $13.74. Rocket Companies shares last traded at $13.72, with a volume of 9,826,182 shares traded.

Analysts Set New Price Targets

Several brokerages have commented on RKT. UBS Group upgraded shares of Rocket Companies from a “sell” rating to a “neutral” rating and lowered their price objective for the stock from $12.50 to $11.50 in a report on Friday, January 10th. Wedbush reiterated a “neutral” rating and issued a $13.00 price objective on shares of Rocket Companies in a report on Wednesday, March 5th. Royal Bank of Canada decreased their target price on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 13th. Barclays reduced their price objective on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday, November 13th. Finally, Keefe, Bruyette & Woods upped their price target on Rocket Companies from $10.50 to $12.00 and gave the company an “underperform” rating in a report on Monday, March 3rd. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, Rocket Companies currently has a consensus rating of “Hold” and an average target price of $13.83.

Rocket Companies Stock Down 15.3 %

The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The business’s 50-day moving average is $12.41 and its two-hundred day moving average is $14.96. The stock has a market capitalization of $26.66 billion, a price-to-earnings ratio of -83.92 and a beta of 2.39.

Institutional Trading of Rocket Companies

Several institutional investors have recently made changes to their positions in RKT. Capital Performance Advisors LLP acquired a new stake in Rocket Companies in the third quarter valued at approximately $39,000. Itau Unibanco Holding S.A. acquired a new position in shares of Rocket Companies during the 4th quarter worth $47,000. KBC Group NV boosted its holdings in Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after buying an additional 2,226 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Rocket Companies by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company’s stock valued at $93,000 after buying an additional 3,019 shares in the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new position in shares of Rocket Companies during the 4th quarter worth $99,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

About Rocket Companies

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company’s solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.