Rocket Companies (NYSE:RKT) Stock Price Down 2.9% - Should You Sell?

Rocket Companies, Inc. (NYSE:RKT - Get Free Report) fell 2.9% during trading on Thursday . The company traded as low as $14.00 and last traded at $14.15. 8,971,427 shares were traded during trading, a decline of 11% from the average session volume of 10,066,859 shares. The stock had previously closed at $14.57.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wedbush reiterated a "neutral" rating and issued a $12.00 price objective (down previously from $13.00) on shares of Rocket Companies in a research note on Friday, May 9th. UBS Group raised their price target 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. Royal Bank Of Canada reissued a "sector perform" rating and set a $18.00 price objective on shares of Rocket Companies in a report on Tuesday, April 1st. The Goldman Sachs Group increased their target price on Rocket Companies from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Barclays raised shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $10.00 to $14.00 in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $14.38.

Rocket Companies Trading Down 2.3%

The company has a current ratio of 12.62, a quick ratio of 12.62 and a debt-to-equity ratio of 1.37. The firm has a market cap of $28.47 billion, a PE ratio of -474.53, a PEG ratio of 1.04 and a beta of 2.28. The firm has a fifty day simple moving average of $13.13 and a two-hundred day simple moving average of $12.84.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.26 billion. Rocket Companies had a net margin of 0.06% and a return on equity of 3.61%. Rocket Companies's quarterly revenue was down 10.8% compared to the same quarter last year. During the same period last year, the business posted $0.04 earnings per share. Equities analysts forecast that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in shares of Rocket Companies by 39.4% in the fourth quarter. Bank of New York Mellon Corp now owns 468,620 shares of the company's stock worth $5,277,000 after buying an additional 132,453 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Rocket Companies during the fourth quarter valued at approximately $154,000. Jones Financial Companies Lllp increased its stake in shares of Rocket Companies by 131.7% in the 4th quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company's stock worth $410,000 after purchasing an additional 20,706 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Rocket Companies in the fourth quarter worth about $135,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Rocket Companies by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company's stock valued at $13,098,000 after purchasing an additional 122,534 shares in the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

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.