Short Interest in Rocket Companies, Inc. (NYSE:RKT) Decreases By 16.1%

Rocket Companies, Inc. (NYSE:RKT) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 16,110,000 shares, a decrease of 16.1% from the October 31st total of 19,190,000 shares. Approximately 12.0% of the shares of the stock are short sold. Based on an average daily volume of 3,510,000 shares, the days-to-cover ratio is currently 4.6 days.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RKT shares. Barclays cut their price objective on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a research report on Wednesday, November 13th. UBS Group reduced their price objective on shares of Rocket Companies from $14.00 to $12.50 and set a “sell” rating for the company in a research report on Thursday, November 14th. Bank of America lifted their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 14th. Piper Sandler reduced their price target on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Royal Bank of Canada lowered their price objective on Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Rocket Companies presently has an average rating of “Hold” and a consensus price target of $15.13.

Hedge Funds Weigh In On Rocket Companies

A number of institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Rocket Companies during the 3rd quarter worth approximately $39,000. Quarry LP grew its position in Rocket Companies by 858.8% in the second quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $60,000 after acquiring an additional 3,899 shares during the period. Blue Trust Inc. acquired a new stake in Rocket Companies during the second quarter worth $61,000. V Square Quantitative Management LLC acquired a new stake in Rocket Companies during the third quarter worth $120,000. Finally, International Assets Investment Management LLC raised its position in Rocket Companies by 3,429.7% in the third quarter. International Assets Investment Management LLC now owns 7,377 shares of the company’s stock valued at $142,000 after purchasing an additional 7,168 shares during the period. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Price Performance

RKT stock opened at $14.53 on Monday. Rocket Companies has a 1 year low of $9.24 and a 1 year high of $21.38. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The firm has a market capitalization of $28.98 billion, a PE ratio of -90.81 and a beta of 2.46. The business has a 50 day simple moving average of $16.46 and a 200-day simple moving average of $16.32.

Rocket Companies (NYSE:RKT) last issued its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The business had revenue of $647.00 million during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the company earned ($0.01) EPS. The company’s revenue for the quarter was down 46.2% on a year-over-year basis. Equities research analysts anticipate that Rocket Companies will post 0.16 earnings per share for the current fiscal year.

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.