Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 7.2% – Should You Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price traded up 7.2% during trading on Monday . The company traded as high as $20.40 and last traded at $20.31. 5,603,532 shares traded hands during trading, a decline of 61% from the average session volume of 14,478,778 shares. The stock had previously closed at $18.94.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. KeyCorp cut their target price 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. The Goldman Sachs Group upped their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Wells Fargo & Company decreased 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 report on Monday, March 3rd. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, Stifel Nicolaus raised their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average target price of $23.06.

Rocket Lab USA Price Performance

The company has a 50 day simple moving average of $24.05 and a 200 day simple moving average of $19.48. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of -54.78 and a beta of 2.06. 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 posted its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. As a group, research analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Activity at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the sale, the insider now owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. This trade represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Spectrum Wealth Counsel LLC acquired a new position in shares of Rocket Lab USA during the fourth quarter worth $25,000. Sandy Spring Bank acquired a new position in Rocket Lab USA in the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new position in Rocket Lab USA in the 4th quarter valued at about $40,000. Quarry LP acquired a new stake in shares of Rocket Lab USA during the fourth quarter valued at about $48,000. Finally, NewEdge Advisors LLC increased 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 acquiring an additional 1,750 shares during 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.