Shares of Rocket Companies Inc. Class A (NYSE:RKT) traded at a new 52-week low today of $16.48. Approximately 6.3 million shares have changed hands today, as compared to an average 30-day volume of 10.8 million shares.
Rocket Companies Inc is a Detroit-based company helping its clients achieve the American dream of home ownership and financial freedom. Its flagship business, Rocket Mortgage offers government sponsored enterprises (GSE)-conforming and government insured mortgage loan products, which are marketed in all states through the internet, national television and other marketing channels. In addition to mortgage business, it has expanded into complementary industries, such as real estate, personal lending, and auto sales. The mortgage origination business derives revenue from originating, processing, underwriting, and servicing predominantly GSE-conforming mortgage loans, along with FHA, USDA and VA mortgage loans, which are pooled and sold to the secondary market.
Rocket Companies Inc. Class A (NYSE:RKT) defies analysts with a current price ($16.72) 17.9% above its average consensus price target of $13.73.
In the past 52 weeks, shares of Rocket Companies Inc. Class A have traded between the current low of $16.48 and a high of $43.00 and is now at $16.72.
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