Rocket Lab USA (NASDAQ:RKLB) Trading Up 7.2% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price was up 7.2% during mid-day trading on Monday . The company traded as high as $20.40 and last traded at $20.31. Approximately 5,603,532 shares traded hands during trading, a decline of 61% from the average daily volume of 14,478,778 shares. The stock had previously closed at $18.94.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RKLB shares. The Goldman Sachs Group increased their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Wells Fargo & Company decreased their price objective 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, March 3rd. Citigroup dropped their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. KeyCorp cut their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, Morgan Stanley boosted their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.06.

Rocket Lab USA Stock Up 5.8 %

The business has a 50-day moving average of $24.20 and a 200 day moving average of $19.27. The company has a market capitalization of $9.09 billion, a PE ratio of -54.10 and a beta of 2.06. 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 issued its quarterly earnings data 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). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The firm had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. Equities research analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the sale, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 13.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Rocket Lab USA by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock valued at $921,901,000 after purchasing an additional 668,093 shares during the period. Geode Capital Management LLC raised its holdings in Rocket Lab USA by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock valued at $211,084,000 after buying an additional 32,658 shares during the period. FMR LLC lifted its position in Rocket Lab USA by 30,853.3% in 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 during the last quarter. Northern Trust Corp boosted its stake in Rocket Lab USA by 9.5% during the fourth quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer’s stock worth $82,207,000 after buying an additional 281,339 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Rocket Lab USA by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock valued at $73,919,000 after acquiring an additional 23,855 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.