Rocket Lab USA (NASDAQ:RKLB) Shares Down 5.2%

Rocket Lab USA, Inc. (NASDAQ:RKLB) dropped 5.2% on Monday . The stock traded as low as $4.54 and last traded at $4.55. Approximately 2,543,054 shares traded hands during trading, a decline of 69% from the average daily volume of 8,186,749 shares. The stock had previously closed at $4.80.

Analyst Upgrades and Downgrades

RKLB has been the subject of several research analyst reports. BTIG Research assumed coverage on shares of Rocket Lab USA in a report on Wednesday, June 26th. They set a “neutral” rating for the company. Roth Mkm reaffirmed a “buy” rating and set a $7.00 target price on shares of Rocket Lab USA in a research report on Tuesday, June 18th. The Goldman Sachs Group assumed coverage on shares of Rocket Lab USA in a research note on Tuesday, June 11th. They set a “neutral” rating and a $4.50 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 price target on shares of Rocket Lab USA in a report on Monday. Finally, Wells Fargo & Company lowered their price objective on Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a research report on Thursday, April 4th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.65.

Rocket Lab USA Trading Up 0.2 %

The stock has a 50 day moving average price of $4.35 and a 200 day moving average price of $4.46. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.69 and a current ratio of 3.12.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data on Monday, May 6th. The rocket manufacturer reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. Rocket Lab USA had a negative return on equity of 32.50% and a negative net margin of 64.15%. The business had revenue of $92.80 million for the quarter, compared to the consensus estimate of $94.98 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Rocket Lab USA’s revenue for the quarter was up 69.0% on a year-over-year basis. As a group, sell-side analysts forecast that Rocket Lab USA, Inc. will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 29,026 shares of Rocket Lab USA stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $4.22, for a total transaction of $122,489.72. Following the completion of the transaction, the general counsel now owns 666,121 shares of the company’s stock, valued at approximately $2,811,030.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Adam C. Spice sold 63,529 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $4.22, for a total transaction of $268,092.38. Following the completion of the transaction, the chief financial officer now owns 1,383,677 shares of the company’s stock, valued at $5,839,116.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Arjun Kampani sold 29,026 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $4.22, for a total transaction of $122,489.72. Following the completion of the transaction, the general counsel now owns 666,121 shares in the company, valued at $2,811,030.62. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Deutsche Bank AG raised its position in Rocket Lab USA by 14.8% in the 3rd quarter. Deutsche Bank AG now owns 135,146 shares of the rocket manufacturer’s stock worth $592,000 after purchasing an additional 17,374 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Rocket Lab USA in the 3rd quarter valued at about $2,271,000. Graham Capital Management L.P. purchased a new stake in Rocket Lab USA during the 3rd quarter valued at about $221,000. American Century Companies Inc. grew its position in Rocket Lab USA by 12.0% during the 3rd quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer’s stock worth $16,213,000 after acquiring an additional 396,501 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Rocket Lab USA by 14.6% in the 3rd quarter. Wellington Management Group LLP now owns 851,280 shares of the rocket manufacturer’s stock worth $3,729,000 after purchasing an additional 108,451 shares during the period. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab USA Company Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.