Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 1.3% – Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price was down 1.3% during mid-day trading on Thursday . The company traded as low as $18.40 and last traded at $19.19. Approximately 3,418,601 shares were traded during trading, a decline of 76% from the average daily volume of 14,512,550 shares. The stock had previously closed at $19.44.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RKLB. Stifel Nicolaus increased their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. KeyCorp reduced their price objective 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. Citigroup cut their price target 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 research note on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.06.

Rocket Lab USA Price Performance

The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The firm’s fifty day moving average price is $23.94 and its 200 day moving average price is $19.48. The stock has a market cap of $8.40 billion, a PE ratio of -50.05 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate 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 net margin of 51.76% and a negative return on equity of 39.47%. As a group, equities analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the sale, the insider now owns 1,417,644 shares of the company’s stock, valued at $28,253,644.92. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its holdings in shares of Rocket Lab USA by 4.4% in the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock valued at $395,000 after acquiring an additional 1,709 shares during the last quarter. Advisors Asset Management Inc. raised its position in Rocket Lab USA by 28.7% during the third quarter. Advisors Asset Management Inc. now owns 14,438 shares of the rocket manufacturer’s stock valued at $140,000 after purchasing an additional 3,220 shares during the period. Intech Investment Management LLC bought a new stake in shares of Rocket Lab USA in the 3rd quarter valued at approximately $921,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Rocket Lab USA by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after purchasing an additional 532,207 shares during the period. Finally, Citigroup Inc. increased its position in shares of Rocket Lab USA by 46.8% during the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after purchasing an additional 220,432 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other 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.