Why Is RKT Up Today?

Shares of Rocket rose to $13.36 during today's morning trading session. Despite the 4.9% change, the Large-Cap Diversified Financial company still trades 17.71% above its average analyst target price of $11.35. So there may be further downside for the Diversified Financial stock. Rocket has target prices ranging from $8.0 to $14.0 per share, and its average rating is hold.

Rocket has an elevated short interest of 14.4%. The stock's short ratio, or the number of days needed for all shorts to cover their positions, is 6.63. The company's insiders own 5.85% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. 72.0% of Rocket shares are held by institutional investors, which indicates a high level of confidence in the stock.

Institutions Invested in Rocket

Date Reported Holder Percentage Shares Value
2023-12-31 FMR, LLC 9% 11,992,407 $160,218,553
2023-12-31 Vanguard Group Inc 8% 11,702,838 $156,349,911
2023-12-31 Boston Partners 6% 9,000,332 $120,244,432
2023-12-31 JP Morgan Chase & Company 5% 7,020,169 $93,789,455
2023-12-31 Blackrock Inc. 4% 5,023,655 $67,116,029
2023-12-31 Technology Crossover Management X, Ltd. 3% 4,450,000 $59,451,998
2023-12-31 Caledonia (Private) Investments Pty Ltd 3% 4,384,150 $58,572,242
2023-12-31 Capital World Investors 3% 3,642,099 $48,658,441
2023-12-31 Davis Selected Advisers, LP 2% 3,282,563 $43,855,040
2023-12-31 State Street Corporation 2% 2,702,927 $36,111,103

For these reasons, we consider that the Rocket is the subject of mixed market sentiment.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.