Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 2.3% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price dropped 2.3% on Thursday . The company traded as low as $19.33 and last traded at $19.92. Approximately 5,527,718 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 14,158,504 shares. The stock had previously closed at $20.40.

Analyst Ratings Changes

Several analysts have recently issued reports on RKLB shares. Stifel Nicolaus upped their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company decreased their price objective on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday. Cantor Fitzgerald lifted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. The Goldman Sachs Group increased their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Finally, Citigroup lowered their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Rocket Lab USA Stock Performance

The firm has a market cap of $9.34 billion, a PE ratio of -50.48 and a beta of 1.99. The business has a 50 day simple moving average of $26.29 and a two-hundred day simple moving average of $18.19. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $132.39 million during the quarter, compared to analysts’ expectations of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. As a group, equities research analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of Rocket Lab USA stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the completion of the sale, the director now directly owns 132,294 shares of the company’s stock, valued at $3,126,107.22. The trade was a 7.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.70% of the stock is owned by insiders.

Institutional Trading of Rocket Lab USA

Several institutional investors and hedge funds have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Rocket Lab USA in the 4th quarter valued at about $4,134,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Rocket Lab USA in the fourth quarter valued at approximately $84,000. Sunbelt Securities Inc. lifted its stake in shares of Rocket Lab USA by 911.9% in the 4th quarter. Sunbelt Securities Inc. now owns 5,717 shares of the rocket manufacturer’s stock worth $150,000 after acquiring an additional 5,152 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Rocket Lab USA by 30.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 682,790 shares of the rocket manufacturer’s stock worth $17,391,000 after purchasing an additional 159,642 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in Rocket Lab USA during the fourth quarter worth approximately $22,331,000. 71.78% of the stock is currently owned by 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.