Rocket Lab USA (NASDAQ:RKLB) Hits New 1-Year Low at $3.66

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $3.66 and last traded at $3.69, with a volume of 2170545 shares. The stock had previously closed at $3.84.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RKLB shares. Citigroup reiterated a "buy" rating and set a $6.00 target price on shares of Rocket Lab USA in a report on Monday, February 12th. Wells Fargo & Company decreased their price objective on Rocket Lab USA from $5.00 to $4.25 and set an "equal weight" rating for the company in a report on Thursday, April 4th. KeyCorp started coverage on Rocket Lab USA in a report on Wednesday, January 17th. They set an "overweight" rating and a $8.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $6.00 target price on shares of Rocket Lab USA in a research report on Friday, December 22nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $7.46.

Rocket Lab USA Stock Performance

The company has a fifty day moving average price of $4.30 and a two-hundred day moving average price of $4.54. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -9.87 and a beta of 1.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.13 and a quick ratio of 1.65.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 74.64% and a negative return on equity of 30.54%. The business had revenue of $59.99 million during the quarter, compared to analyst estimates of $62.90 million. During the same period in the previous year, the company posted ($0.08) earnings per share. Rocket Lab USA's revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts expect that Rocket Lab USA, Inc. will post -0.42 EPS for the current year.

Insider Activity at Rocket Lab USA

In related news, CFO Adam C. Spice sold 67,160 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $285,430.00. Following the transaction, the chief financial officer now owns 1,442,206 shares of the company's stock, valued at $6,129,375.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Adam C. Spice sold 67,160 shares of the company's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $285,430.00. Following the completion of the sale, the chief financial officer now directly owns 1,442,206 shares in the company, valued at $6,129,375.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Arjun Kampani sold 31,394 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $133,424.50. Following the transaction, the general counsel now directly owns 695,147 shares in the company, valued at $2,954,374.75. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RKLB. Point72 Hong Kong Ltd acquired a new position in Rocket Lab USA during the second quarter valued at approximately $27,000. FNY Investment Advisers LLC bought a new position in Rocket Lab USA in the 4th quarter worth $34,000. Allspring Global Investments Holdings LLC acquired a new position in Rocket Lab USA during the 3rd quarter worth $40,000. Tower Research Capital LLC TRC boosted its holdings in Rocket Lab USA by 79.5% during the first quarter. Tower Research Capital LLC TRC now owns 10,014 shares of the rocket manufacturer's stock valued at $40,000 after acquiring an additional 4,435 shares during the period. Finally, Baxter Bros Inc. bought a new position in shares of Rocket Lab USA in the first quarter worth about $40,000. 71.78% of the stock is owned by institutional investors.

About Rocket Lab USA

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.