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

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares were down 1.4% on Friday . The stock traded as low as $25.46 and last traded at $26.03. Approximately 5,181,809 shares were traded during trading, a decline of 69% from the average daily volume of 16,988,945 shares. The stock had previously closed at $26.40.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RKLB shares. Morgan Stanley upped their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Wells Fargo & Company lowered their price objective on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Roth Capital upped their price objective on shares of Rocket Lab USA from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. KeyCorp reiterated an “overweight” rating on shares of Rocket Lab USA in a report on Tuesday, June 3rd. Finally, The Goldman Sachs Group increased their target price on shares of Rocket Lab USA from $14.35 to $16.00 and gave the company a “neutral” rating in a report on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $26.18.

Rocket Lab USA Stock Performance

The company has a market cap of $11.52 billion, a P/E ratio of -68.67 and a beta of 2.08. The company’s 50-day moving average is $23.54 and its two-hundred day moving average is $23.78. 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, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. Rocket Lab USA’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.09) EPS. Equities analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Activity at Rocket Lab USA

In related news, insider Frank Klein sold 2,546 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $30.00, for a total transaction of $76,380.00. Following the completion of the transaction, the insider now owns 1,365,826 shares in the company, valued at approximately $40,974,780. This represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arjun Kampani sold 28,988 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $26.66, for a total transaction of $772,820.08. Following the transaction, the insider now owns 540,618 shares of the company’s stock, valued at $14,412,875.88. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,124 shares of company stock worth $2,707,506. 13.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Spectrum Wealth Counsel LLC bought a new position in Rocket Lab USA during the fourth quarter worth about $25,000. Sandy Spring Bank bought a new position in Rocket Lab USA during the fourth quarter worth about $26,000. Versant Capital Management Inc boosted its position in Rocket Lab USA by 118.1% during the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer’s stock worth $28,000 after purchasing an additional 860 shares during the period. MassMutual Private Wealth & Trust FSB bought a new position in Rocket Lab USA during the first quarter worth about $29,000. Finally, Farther Finance Advisors LLC boosted its position in Rocket Lab USA by 181.1% during the first quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer’s stock worth $35,000 after purchasing an additional 1,226 shares during the period. Institutional investors own 71.78% of the company’s stock.

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.