Rocket Companies, Inc. (NYSE:RKT) Short Interest Up 28.2% in May

Rocket Companies, Inc. (NYSE:RKT - Get Free Report) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 62,040,000 shares, a growth of 28.2% from the April 30th total of 48,400,000 shares. Approximately 44.9% of the shares of the company are sold short. Based on an average daily volume of 12,630,000 shares, the days-to-cover ratio is currently 4.9 days.

Rocket Companies Stock Down 0.3%

Shares of RKT stock traded down $0.04 during mid-day trading on Friday, reaching $12.76. 7,478,880 shares of the company's stock traded hands, compared to its average volume of 5,928,749. Rocket Companies has a 12 month low of $10.06 and a 12 month high of $21.38. The company has a market cap of $25.52 billion, a P/E ratio of -79.75 and a beta of 2.28. 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 company's 50-day moving average price is $12.65 and its 200-day moving average price is $12.76.

Rocket Companies (NYSE:RKT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.04 EPS for the quarter, meeting analysts' consensus estimates of $0.04. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the previous year, the business posted $0.04 EPS. The company's quarterly revenue was down 10.8% on a year-over-year basis. On average, equities analysts expect that Rocket Companies will post 0.15 earnings per share for the current fiscal year.

Rocket Companies Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies's dividend payout ratio (DPR) is presently -4,273.33%.

Hedge Funds Weigh In On Rocket Companies

Large investors have recently modified their holdings of the stock. Mather Group LLC. raised its position in shares of Rocket Companies by 312.2% in the 1st quarter. Mather Group LLC. now owns 2,601 shares of the company's stock worth $31,000 after purchasing an additional 1,970 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Rocket Companies by 302.2% in the 1st quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock worth $36,000 after purchasing an additional 2,221 shares during the last quarter. Brooklyn Investment Group raised its position in shares of Rocket Companies by 251.3% in the 1st quarter. Brooklyn Investment Group now owns 3,390 shares of the company's stock worth $41,000 after purchasing an additional 2,425 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Rocket Companies in the 4th quarter worth about $47,000. Finally, GAMMA Investing LLC raised its position in shares of Rocket Companies by 82.4% in the 1st quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock worth $47,000 after purchasing an additional 1,764 shares during the last quarter. Hedge funds and other institutional investors own 4.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RKT. Wedbush reaffirmed a "neutral" rating and set a $12.00 price target (down from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $18.00 price target on shares of Rocket Companies in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price on the stock in a report on Wednesday, April 2nd. UBS Group raised their target price on shares of Rocket Companies from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Rocket Companies from $15.00 to $13.00 and set a "market perform" rating on the stock in a report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $14.21.

Rocket Companies Company Profile

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.