Rocket Lab USA (NASDAQ:RKLB) Shares Down 4.6% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price fell 4.6% during mid-day trading on Thursday . The company traded as low as $10.66 and last traded at $10.68. 4,547,905 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 9,805,724 shares. The stock had previously closed at $11.19.

Wall Street Analyst Weigh In

Several research firms recently commented on RKLB. Citigroup upped their price target on shares of Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 price target on shares of Rocket Lab USA in a research report on Monday, September 30th. BTIG Research initiated coverage on Rocket Lab USA in a report on Wednesday, June 26th. They issued a “neutral” rating for the company. JMP Securities started coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating on the stock. Finally, KeyCorp raised their target price on shares of Rocket Lab USA from $8.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Rocket Lab USA presently has a consensus rating of “Hold” and a consensus target price of $6.75.

Rocket Lab USA Stock Down 5.1 %

The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. The stock has a market capitalization of $5.27 billion, a P/E ratio of -30.23 and a beta of 1.32. The stock has a fifty day moving average price of $7.46 and a 200 day moving average price of $5.51.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The business had revenue of $106.25 million during the quarter, compared to analyst estimates of $105.47 million. During the same quarter in the previous year, the firm earned ($0.10) EPS. The company’s quarterly revenue was up 71.2% compared to the same quarter last year. On average, research analysts forecast that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Arjun Kampani sold 28,563 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $198,798.48. Following the completion of the transaction, the general counsel now directly owns 637,558 shares in the company, valued at $4,437,403.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Arjun Kampani sold 28,563 shares of Rocket Lab USA stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $198,798.48. Following the sale, the general counsel now owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 130,521 shares of company stock worth $906,059 in the last three months. 13.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after acquiring an additional 2,448,789 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Rocket Lab USA by 18.1% in the 1st quarter. Principal Financial Group Inc. now owns 38,074 shares of the rocket manufacturer’s stock worth $156,000 after purchasing an additional 5,838 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Rocket Lab USA by 40.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock worth $440,000 after purchasing an additional 26,605 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Rocket Lab USA by 2.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 294,054 shares of the rocket manufacturer’s stock valued at $1,209,000 after purchasing an additional 6,534 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Rocket Lab USA by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock valued at $6,950,000 after buying an additional 229,512 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

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.