Rocket Lab USA (NASDAQ:RKLB) Shares Down 0.3% – Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) fell 0.3% during mid-day trading on Thursday . The company traded as low as $18.16 and last traded at $18.72. 2,456,489 shares changed hands during trading, a decline of 83% from the average session volume of 14,422,018 shares. The stock had previously closed at $18.78.

Wall Street Analysts Forecast Growth

RKLB has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. KeyCorp dropped their price target on shares of 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. Citigroup cut their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Morgan Stanley upped their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Finally, The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rocket Lab USA presently has an average rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Stock Up 2.2 %

The business’s fifty day moving average price is $24.20 and its 200 day moving average price is $19.09. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of -51.19 and a beta of 2.06. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

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

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $18.18, for a total value of $809,973.54. Following the transaction, the insider now directly owns 1,419,479 shares of the company’s stock, valued at approximately $25,806,128.22. The trade was a 3.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.70% of the stock is owned by company insiders.

Institutional Trading of Rocket Lab USA

Hedge funds have recently made changes to their positions in the company. Spectrum Wealth Counsel LLC purchased a new position in Rocket Lab USA during the fourth quarter worth about $25,000. Sandy Spring Bank purchased a new position in shares of Rocket Lab USA during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Rocket Lab USA in the 4th quarter valued at approximately $40,000. Quarry LP acquired a new stake in shares of Rocket Lab USA in the 4th quarter valued at approximately $48,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Rocket Lab USA by 1,000.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock valued at $49,000 after buying an additional 1,750 shares in the last quarter. Institutional investors and hedge funds 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.