Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 1.6% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB) traded down 1.6% during mid-day trading on Tuesday . The company traded as low as $19.88 and last traded at $19.89. 4,016,847 shares changed hands during trading, a decline of 72% from the average session volume of 14,509,486 shares. The stock had previously closed at $20.21.

Analysts Set New Price Targets

A number of brokerages have recently commented on RKLB. KeyCorp reduced their price target on shares of 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. Morgan Stanley boosted 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 research note on Monday, March 10th. Stifel Nicolaus increased their price target on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Citigroup cut their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.06.

Rocket Lab USA Stock Performance

The company has a market cap of $9.12 billion, a PE ratio of -54.26 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. The business’s 50 day moving average is $24.13 and its two-hundred day moving average is $19.37.

Rocket Lab USA (NASDAQ:RKLB) last issued its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $132.39 million for the quarter, compared to the consensus estimate 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, equities research analysts anticipate 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 44,553 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $18.18, for a total value of $809,973.54. Following the completion of the transaction, the insider now owns 1,419,479 shares of the company’s stock, valued at approximately $25,806,128.22. This trade represents a 3.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RKLB. Spectrum Wealth Counsel LLC bought a new position in shares of Rocket Lab USA during the 4th quarter valued at approximately $25,000. Sandy Spring Bank purchased a new position in Rocket Lab USA during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new position in Rocket Lab USA during the fourth quarter valued at $40,000. Quarry LP bought a new position in Rocket Lab USA during the fourth quarter valued at $48,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of Rocket Lab USA by 1,000.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock worth $49,000 after acquiring an additional 1,750 shares during the last quarter. 71.78% of the stock is currently owned by hedge funds and other 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.