Rocket Lab USA (NASDAQ:RKLB) Trading Up 1% – Here’s Why

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price was up 1% during trading on Wednesday . The company traded as high as $18.41 and last traded at $18.16. Approximately 2,773,695 shares traded hands during trading, a decline of 81% from the average daily volume of 14,400,421 shares. The stock had previously closed at $17.98.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RKLB shares. Wells Fargo & Company lowered their price objective on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Morgan Stanley boosted their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. The Goldman Sachs Group upped their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, Citigroup lowered 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. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Rocket Lab USA has a consensus rating of “Moderate Buy” and a consensus target price of $23.06.

Rocket Lab USA Stock Up 1.4 %

The firm has a market capitalization of $8.27 billion, a PE ratio of -49.04 and a beta of 2.06. The business’s fifty day moving average price is $24.71 and its 200 day moving average price is $19.01. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The company had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. On average, equities research analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Activity at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the transaction, the insider now directly 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 SEC, which is available at this link. 13.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors have recently added to or reduced their stakes in RKLB. Spectrum Wealth Counsel LLC purchased a new stake in Rocket Lab USA in the 4th quarter valued at approximately $25,000. Sandy Spring Bank purchased a new stake in Rocket Lab USA in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Rocket Lab USA in the 4th quarter valued at approximately $40,000. Quarry LP purchased a new stake in Rocket Lab USA in the 4th quarter valued at approximately $48,000. Finally, NewEdge Advisors LLC boosted its holdings in 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 valued at $49,000 after purchasing an additional 1,750 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.