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As of close of business last night, Reddit Inc.’s stock clocked out at $66.96, up 3.02% from its previous closing price of $65.00. In other words, the price has increased by $3.02 from its previous closing price. On the day, 4.35 million shares were traded. RDDT stock price reached its highest trading level at $67.28 during the session, while it also had its lowest trading level at $63.6.
Ratios:
To gain a deeper understanding of RDDT’s stock, we examine its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 12.42 and its Current Ratio is at 12.42. In the meantime, Its Debt-to-Equity ratio is 0.01 whereas as Long-Term Debt/Eq ratio is at 0.01.
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, B. Riley Securities on September 20, 2024, initiated with a Buy rating and assigned the stock a target price of $75.
On August 01, 2024, Loop Capital Upgraded its rating to Buy which previously was Hold but kept the price unchanged to $75.
ROTH MKM reiterated its Buy rating for the stock on July 26, 2024, while the target price for the stock was revised from $61 to $67.
Insider Transactions:
Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on Sep 19 ’24 when Wong Jennifer L. sold 50,000 shares for $65.01 per share. The transaction valued at 3,250,500 led to the insider holds 1,542,457 shares of the business.
Vollero Andrew sold 68,875 shares of RDDT for $4,437,472 on Sep 19 ’24. The Chief Financial Officer now owns 771,504 shares after completing the transaction at $64.43 per share. On Sep 18 ’24, another insider, Vollero Andrew, who serves as the Chief Financial Officer of the company, sold 11,287 shares for $64.00 each. As a result, the insider received 722,368 and left with 840,379 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 11107056640 and an Enterprise Value of 9436134400. For the stock, the TTM Price-to-Sale (P/S) ratio is 11.32 while its Price-to-Book (P/B) ratio in mrq is 5.86. Its current Enterprise Value per Revenue stands at 9.615 whereas that against EBITDA is -15.163.
Stock Price History:
Over the past 52 weeks, RDDT has reached a high of $78.08, while it has fallen to a 52-week low of $37.35. The 50-Day Moving Average of the stock is 12.41%, while the 200-Day Moving Average is calculated to be 17.88%.
Shares Statistics:
It appears that RDDT traded 3.71M shares on average per day over the past three months and 4488710 shares per day over the past ten days. A total of 165.88M shares are outstanding, with a floating share count of 74.26M. Insiders hold about 55.23% of the company’s shares, while institutions hold 17.93% stake in the company. Shares short for RDDT as of 1724976000 were 7111420 with a Short Ratio of 1.50, compared to 1722384000 on 7818365.
