Rocket Companies (NYSE:RKT) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Rocket Companies (NYSE:RKT) experienced a significant trading volume surge of 139% on Friday, with 36.3 million shares traded compared to the previous session's 15.2 million shares.
• Analysts have varying ratings for Rocket Companies, with a consensus rating of "Hold" and a price target of $16.65, while recent reports from Bank of America and Keefe, Bruyette & Woods provided more optimistic views.
• The company's last quarterly earnings beat expectations, reporting $1.36 billion in revenue and $0.04 EPS, indicating a 4.5% year-over-year revenue increase.

Shares of Rocket Companies, Inc. (NYSE:RKT - Get Free Report) saw strong trading volume on Friday . 36,299,355 shares were traded during trading, an increase of 139% from the previous session's volume of 15,184,461 shares.The stock last traded at $18.26 and had previously closed at $18.37.

Analyst Ratings Changes

RKT has been the subject of a number of recent research reports. UBS Group set a $16.00 price target on shares of Rocket Companies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Zacks Research lowered shares of Rocket Companies from a "hold" rating to a "strong sell" rating in a report on Monday. Keefe, Bruyette & Woods lifted their price target on Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a research note on Tuesday, August 5th. Bank of America raised Rocket Companies from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $21.00 to $24.00 in a research note on Wednesday, September 10th. Finally, Morgan Stanley upped their price target on Rocket Companies from $16.00 to $18.00 and gave the stock an "equal weight" rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Rocket Companies has a consensus rating of "Hold" and a consensus price target of $16.65.

Rocket Companies Price Performance

The company has a current ratio of 18.74, a quick ratio of 18.74 and a debt-to-equity ratio of 2.36. The stock has a market cap of $37.42 billion, a PE ratio of -355.60 and a beta of 2.23. The business has a 50-day moving average price of $18.60 and a 200 day moving average price of $15.12.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The business had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.28 billion. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 EPS. Rocket Companies has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of Rocket Companies

Large investors have recently modified their holdings of the business. Ameriprise Financial Inc. grew its stake in Rocket Companies by 29.6% in the fourth quarter. Ameriprise Financial Inc. now owns 20,598 shares of the company's stock worth $232,000 after purchasing an additional 4,708 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Rocket Companies by 16.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 330,293 shares of the company's stock valued at $3,719,000 after buying an additional 46,856 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Rocket Companies by 2,101.4% in the 1st quarter. GAMMA Investing LLC now owns 47,133 shares of the company's stock worth $569,000 after buying an additional 44,992 shares during the period. Parallel Advisors LLC increased its stake 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 acquiring an additional 2,221 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Rocket Companies by 11.7% during the 1st quarter. Rhumbline Advisers now owns 146,527 shares of the company's stock valued at $1,769,000 after acquiring an additional 15,310 shares during the period. 4.59% of the stock is owned by institutional investors.

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.

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