Rocket Lab USA (NASDAQ:RKLB) Shares Gap Down to $5.39

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares gapped down prior to trading on Tuesday . The stock had previously closed at $5.39, but opened at $5.25. Rocket Lab USA shares last traded at $5.09, with a volume of 2,153,887 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RKLB shares. Roth Mkm reissued a “buy” rating and set a $7.00 price objective on shares of Rocket Lab USA in a research report on Tuesday, June 18th. BTIG Research initiated coverage on Rocket Lab USA in a research report on Wednesday, June 26th. They issued a “neutral” rating for the company. Citigroup lowered their price objective on Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. The Goldman Sachs Group initiated coverage on Rocket Lab USA in a research note on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price objective for the company. Finally, Morgan Stanley cut shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $8.00 to $6.00 in a research note on Monday, July 15th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.58.

Rocket Lab USA Stock Performance

The firm’s 50-day moving average price is $4.93 and its 200-day moving average price is $4.46. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.12 and a quick ratio of 2.69. The stock has a market cap of $2.51 billion, a P/E ratio of -13.89 and a beta of 1.25.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The company had revenue of $106.25 million for the quarter, compared to the consensus estimate of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 32.78%. Rocket Lab USA’s revenue for the quarter was up 71.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) EPS. Sell-side analysts expect that Rocket Lab USA, Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rocket Lab USA news, CFO Adam C. Spice sold 63,529 shares of the firm’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 $268,092.38. Following the completion of the transaction, the chief financial officer now owns 1,383,677 shares in the company, valued at approximately $5,839,116.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel Arjun Kampani sold 29,026 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $4.22, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Adam C. Spice sold 63,529 shares of the business’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 value of $268,092.38. Following the sale, the chief financial officer now directly owns 1,383,677 shares in the company, valued at $5,839,116.94. The disclosure for this sale can be found here. 13.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Rocket Lab USA in the fourth quarter worth $124,000. Raymond James & Associates boosted its stake in shares of Rocket Lab USA by 10.3% during the 4th quarter. Raymond James & Associates now owns 21,825 shares of the rocket manufacturer’s stock worth $121,000 after purchasing an additional 2,040 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Rocket Lab USA by 26.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 86,195 shares of the rocket manufacturer’s stock valued at $477,000 after purchasing an additional 17,833 shares during the last quarter. Arizona State Retirement System raised its position in Rocket Lab USA by 9.0% in the 4th quarter. Arizona State Retirement System now owns 74,311 shares of the rocket manufacturer’s stock worth $411,000 after purchasing an additional 6,166 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in Rocket Lab USA by 453.0% in the fourth quarter. International Assets Investment Management LLC now owns 52,480 shares of the rocket manufacturer’s stock worth $290,000 after purchasing an additional 42,990 shares during the last quarter. 71.78% of the stock is owned by institutional investors.

About Rocket Lab USA

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.