On Monday, Reddit Inc. (NYSE: RDDT) opened lower -1.77% from the last session, before settling in for the closing price of $66.17. Price fluctuations for RDDT have ranged from $37.35 to $78.08 over the past 52 weeks.
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Over the past five-year period, the growth rate of yearbook sales for the company of the Communication Services sector was 56.64%. Company’s average yearly earnings per share was noted -199.09% at the time writing. With a float of $74.26 million, this company’s outstanding shares have now reached $165.88 million.
Considering the fact that the conglomerate employs 2013 people, you should pay attention to its efficiency factor.
Reddit Inc. (RDDT) Insider Activity
A key investor’s attitude towards the stock of the Internet Content & Information industry is another important factor to consider. The insider ownership of Reddit Inc. is 55.23%, while institutional ownership is 17.93%. The most recent insider transaction that took place on Sep 19 ’24, was worth 3,250,500. In this transaction Chief Operating Officer of this company sold 50,000 shares at a rate of $65.01, taking the stock ownership to the 1,542,457 shares. Before that another transaction happened on Sep 19 ’24, when Company’s Chief Financial Officer sold 68,875 for $64.43, making the entire transaction worth $4,437,472. This insider now owns 771,504 shares in total.
Reddit Inc. (RDDT) Earnings and Forecasts
If we go through the results of last quarter, which was made public on 6/30/2024, the company posted -8.19 earnings per share (EPS) for the quarter, besting the agreed prediction (set at -8.71) by 0.52. Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.02 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around -199.09% per share during the next fiscal year.
Reddit Inc. (NYSE: RDDT) Trading Performance Indicators
Check out the current performance indicators for Reddit Inc. (RDDT). In the past quarter, the stock posted a quick ratio of 12.42. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 10.99.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -3.51, a number that is poised to hit -0.09 in the next quarter and is forecasted to reach -0.00 in one year’s time.
Technical Analysis of Reddit Inc. (RDDT)
Compared to the last year’s volume of 4.43 million, its volume of 5.16 million showed improvement in the last five days. As of the previous 9 days, the stock’s Stochastic %D was 83.32%. Additionally, its Average True Range was 3.12.
During the past 100 days, Reddit Inc.’s (RDDT) raw stochastic average was set at 60.93%, which indicates a significant decrease from 81.66% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 37.21% in the past 14 days, which was lower than the 63.24% volatility it showed in the past 100 days.
Nevertheless, the first resistance level for the watch stands at $66.38 in the near term. At $67.76, the stock is likely to face the second major resistance level. The third major resistance level sits at $68.56. If the price goes on to break the first support level at $64.20, it is likely to go to the next support level at $63.40. Should the price break the second support level, the third support level stands at $62.02.
Reddit Inc. (NYSE: RDDT) Key Stats
There are currently 163,509K shares outstanding in the company with a market cap of 10.78 billion. Presently, the company’s annual sales total 804,030 K according to its annual income of -90,820 K. Last quarter, the company’s sales amounted to 281,180 K and its income totaled -10,100 K.
