Investors on the quest for market-beating returns often employ the strategy of stock picking. Making informed choices in stocks can greatly amplify your wealth.
Reddit Inc. (NYSE: RDDT) closed the day trading at $43.15 up 0.77% from the previous closing price of $42.82. In other words, the price has increased by $0.77 from its previous closing price. On the day, 1.38 million shares were traded. RDDT stock price reached its highest trading level at $43.97 during the session, while it also had its lowest trading level at $42.45.
Ratios:
For a better understanding of RDDT, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 11.08 and its Current Ratio is at 11.08. In the meantime, Its Debt-to-Equity ratio is 0.02 whereas as Long-Term Debt/Eq ratio is at 0.02.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Deutsche Bank on April 16, 2024, initiated with a Buy rating and assigned the stock a target price of $50.
On April 16, 2024, BofA Securities started tracking the stock assigning a Neutral rating and target price of $46.
On April 15, 2024, ROTH MKM started tracking the stock assigning a Buy rating and target price of $50.ROTH MKM initiated its Buy rating on April 15, 2024, with a $50 target price.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Mar 25 ’24 when Sauerberg Robert A. bought 10,000 shares for $34.00 per share. The transaction valued at 340,000 led to the insider holds 10,000 shares of the business.
Habiger David C bought 3,000 shares of RDDT for $102,000 on Mar 25 ’24. The Director now owns 24,906 shares after completing the transaction at $34.00 per share. On Mar 25 ’24, another insider, Huffman Steve Ladd, who serves as the CEO & President of the company, sold 500,000 shares for $32.30 each. As a result, the insider received 16,150,000 and left with 710,306 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, RDDT now has a Market Capitalization of 7002942976 and an Enterprise Value of 3298435584. For the stock, the TTM Price-to-Sale (P/S) ratio is 8.71. Its current Enterprise Value per Revenue stands at 4.102 whereas that against EBITDA is -26.083.
Stock Price History:
Over the past 52 weeks, RDDT has reached a high of $74.90, while it has fallen to a 52-week low of $37.35. The 50-Day Moving Average of the stock is -7.51%, while the 200-Day Moving Average is calculated to be -7.51%.
Shares Statistics:
Over the past 3-months, RDDT traded about 9.64M shares per day on average, while over the past 10 days, RDDT traded about 2321520 shares per day. A total of 36.88M shares are outstanding, with a floating share count of 26.93M. Insiders hold about 83.40% of the company’s shares, while institutions hold 0.06% stake in the company.
