Rocket Lab USA (NASDAQ:RKLB) Trading Up 0.8% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price was up 0.8% on Thursday . The company traded as high as $22.16 and last traded at $21.42. Approximately 6,527,898 shares traded hands during trading, a decline of 67% from the average daily volume of 19,496,262 shares. The stock had previously closed at $21.25.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RKLB. Bank of America upped their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group upped their price target on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Wells Fargo & Company boosted their target price on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Finally, Cantor Fitzgerald upped their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Five investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.61.

Rocket Lab USA Stock Performance

The firm’s 50 day moving average price is $26.71 and its 200-day moving average price is $17.82. The firm has a market cap of $10.22 billion, a price-to-earnings ratio of -55.25 and a beta of 1.99. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (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 analyst estimates of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. On average, analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total value of $236,300.00. Following the sale, the director now directly owns 132,294 shares in the company, valued at $3,126,107.22. This represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the completion of the sale, the director now directly owns 534,675 shares in the company, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. 13.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Rocket Lab USA by 30,853.3% during the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock worth $94,141,000 after buying an additional 3,684,195 shares in the last quarter. Two Sigma Advisers LP bought a new stake in Rocket Lab USA during the 4th quarter worth approximately $72,623,000. BNP Paribas Financial Markets acquired a new stake in Rocket Lab USA during the 4th quarter valued at $56,977,000. Two Sigma Investments LP bought a new position in Rocket Lab USA in the 4th quarter valued at $47,074,000. Finally, Renaissance Technologies LLC boosted its stake in Rocket Lab USA by 1,765.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer’s stock worth $46,325,000 after purchasing an additional 1,721,300 shares in 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.