Rocket Lab USA (NASDAQ:RKLB) Trading Down 1.4% – What’s Next?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) were down 1.4% during mid-day trading on Friday . The company traded as low as $17.80 and last traded at $18.40. Approximately 5,989,134 shares were traded during trading, a decline of 58% from the average daily volume of 14,210,620 shares. The stock had previously closed at $18.66.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RKLB. KeyCorp decreased their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company decreased their target price on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday. The Goldman Sachs Group increased their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, Bank of America increased their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Rocket Lab USA presently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Rocket Lab USA Stock Performance

The stock’s 50 day moving average price is $26.10 and its 200 day moving average price is $18.19. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The firm has a market cap of $9.43 billion, a PE ratio of -50.79 and a beta of 1.99.

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

Insider Transactions at Rocket Lab USA

In related news, Director Nina Armagno sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 132,294 shares of the company’s stock, valued at approximately $3,126,107.22. This represents a 7.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Several institutional investors have recently added to or reduced their stakes in RKLB. Spectrum Wealth Counsel LLC bought a new position in shares of Rocket Lab USA in the 4th quarter worth about $25,000. Sandy Spring Bank acquired a new stake in Rocket Lab USA in the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new stake in Rocket Lab USA in the fourth quarter valued at $40,000. Quarry LP acquired a new position in shares of Rocket Lab USA during the fourth quarter valued at $48,000. Finally, NewEdge Advisors LLC grew its position in shares of Rocket Lab USA by 1,000.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock worth $49,000 after acquiring an additional 1,750 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

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.