Rocket Lab USA (NASDAQ:RKLB) Reaches New 52-Week Low at $3.47

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $3.47 and last traded at $3.48, with a volume of 1247367 shares changing hands. The stock had previously closed at $3.53.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RKLB. Citigroup restated a "buy" rating and set a $6.00 target price on shares of Rocket Lab USA in a research report on Monday, February 12th. Wells Fargo & Company dropped their target price on Rocket Lab USA from $5.00 to $4.25 and set an "equal weight" rating on the stock in a research report on Thursday, April 4th. KeyCorp began coverage on Rocket Lab USA in a research report on Wednesday, January 17th. They set an "overweight" rating and a $8.00 target price on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and set 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 a consensus rating of "Moderate Buy" and a consensus price target of $7.46.

Rocket Lab USA Trading Up 0.8 %

The stock has a market cap of $1.74 billion, a P/E ratio of -9.37 and a beta of 1.17. The firm's fifty day moving average price is $4.25 and its two-hundred day moving average price is $4.51. 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 released its earnings results on Tuesday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). The firm had revenue of $59.99 million during the quarter, compared to the consensus estimate of $62.90 million. Rocket Lab USA had a negative net margin of 74.64% and a negative return on equity of 30.54%. The firm's revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) EPS. As a group, equities research analysts forecast 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 stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Rocket Lab USA news, CFO Adam C. Spice sold 67,160 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Arjun Kampani sold 31,394 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $133,424.50. Following the sale, the general counsel now owns 695,147 shares of the company's stock, valued at $2,954,374.75. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Institutional Trading of Rocket Lab USA

Several institutional investors have recently added to or reduced their stakes in the business. 180 Wealth Advisors LLC boosted its holdings in shares of Rocket Lab USA by 35.3% during the first quarter. 180 Wealth Advisors LLC now owns 37,373 shares of the rocket manufacturer's stock worth $154,000 after purchasing an additional 9,747 shares during the period. Sanders Morris Harris LLC purchased a new stake in shares of Rocket Lab USA during the first quarter worth about $145,000. Vanguard Group Inc. boosted its holdings in shares of Rocket Lab USA by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 26,551,789 shares of the rocket manufacturer's stock worth $146,831,000 after purchasing an additional 451,370 shares during the period. Virtu Financial LLC purchased a new stake in shares of Rocket Lab USA during the fourth quarter worth about $852,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Rocket Lab USA by 4.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 150,034 shares of the rocket manufacturer's stock worth $830,000 after purchasing an additional 7,038 shares during the period. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

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.