Rocket Lab USA (NASDAQ:RKLB) Trading Down 0% – Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price fell 0% during mid-day trading on Wednesday . The stock traded as low as $19.66 and last traded at $20.27. 4,376,898 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 14,496,734 shares. The stock had previously closed at $20.27.

Analysts Set New Price Targets

Several research firms recently commented on RKLB. Stifel Nicolaus upped their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Citigroup decreased their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group increased their price objective 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. Wells Fargo & Company reduced their target price on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Finally, TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Stock Performance

The stock’s 50 day simple moving average is $23.82 and its two-hundred day simple moving average is $19.47. The company has a market capitalization of $8.45 billion, a P/E ratio of -50.32 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 posted its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share 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 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%. As a group, research analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Transactions at Rocket Lab USA

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

Hedge Funds Weigh In On Rocket Lab USA

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

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.