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.
