Rocket Lab USA (NASDAQ:RKLB) Trading Down 0.1% – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares fell 0.1% during mid-day trading on Wednesday . The company traded as low as $11.35 and last traded at $11.46. Approximately 2,224,175 shares were traded during mid-day trading, a decline of 77% from the average session volume of 9,856,522 shares. The stock had previously closed at $11.47.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RKLB. JMP Securities initiated coverage on Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. Citigroup upped their target price on Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. The Goldman Sachs Group raised their price target on Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price objective on shares of Rocket Lab USA in a research note on Monday, September 30th. Finally, KeyCorp raised their target price on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Hold” and a consensus price target of $6.89.

Rocket Lab USA Stock Down 2.8 %

The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.43 and a current ratio of 2.82. The firm has a 50 day simple moving average of $8.42 and a two-hundred day simple moving average of $5.98. The stock has a market cap of $5.54 billion, a P/E ratio of -31.68 and a beta of 1.32.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data 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. The business had revenue of $106.25 million for the quarter, compared to analysts’ expectations of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The company’s revenue was up 71.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.10) earnings per share. Equities research analysts predict that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current year.

Insider Transactions at Rocket Lab USA

In related news, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the transaction, the chief financial officer now owns 1,321,165 shares in the company, valued at $9,195,308.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the sale, the chief financial officer now owns 1,321,165 shares in the company, valued at $9,195,308.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael D. Griffin sold 39,446 shares of Rocket Lab USA stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the transaction, the director now directly owns 42,353 shares in the company, valued at approximately $292,235.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 130,521 shares of company stock valued at $906,059. Company insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake 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 in the last quarter. Ieq Capital LLC purchased a new stake in shares of Rocket Lab USA during the second quarter valued at $5,469,000. Tocqueville Asset Management L.P. boosted its position in shares of Rocket Lab USA by 217.1% in the 1st quarter. Tocqueville Asset Management L.P. now owns 1,284,060 shares of the rocket manufacturer’s stock valued at $5,277,000 after purchasing an additional 879,160 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Rocket Lab USA by 25.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after purchasing an additional 432,501 shares in the last quarter. Finally, ARK Investment Management LLC raised its holdings in Rocket Lab USA by 6.6% during the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock worth $30,226,000 after buying an additional 391,778 shares during the period. 71.78% of the stock is 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.