Rocket Lab (NASDAQ:RKLB) Shares Up 9.6% - What's Next?

Shares of Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) shot up 9.6% on Thursday . The company traded as high as $37.27 and last traded at $35.47. 19,925,954 shares were traded during mid-day trading, an increase of 14% from the average session volume of 17,479,290 shares. The stock had previously closed at $32.35.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RKLB. Needham & Company LLC raised their price objective on Rocket Lab from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Stifel Nicolaus raised their price objective on Rocket Lab from $29.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Roth Capital raised their price objective on Rocket Lab from $25.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. The Goldman Sachs Group lifted their price target on Rocket Lab from $14.35 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Finally, Citigroup dropped their price target on Rocket Lab from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Rocket Lab currently has a consensus rating of "Moderate Buy" and an average target price of $28.10.

Rocket Lab Trading Up 11.7%

The company has a market capitalization of $16.39 billion, a P/E ratio of -90.35 and a beta of 2.08. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.72 and a current ratio of 2.08. The company has a 50-day simple moving average of $25.46 and a 200 day simple moving average of $24.15.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The firm had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. Rocket Lab had a negative net margin of 44.32% and a negative return on equity of 48.92%. The business's revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. Sell-side analysts expect that Rocket Lab Corporation will post -0.38 earnings per share for the current year.

Insider Activity

In other news, Director Merline Saintil sold 6,353 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $29.41, for a total transaction of $186,841.73. Following the sale, the director now directly owns 425,922 shares in the company, valued at approximately $12,526,366.02. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Matthew Ocko sold 820,000 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $26.01, for a total value of $21,328,200.00. Following the completion of the sale, the director now directly owns 1,083,053 shares in the company, valued at approximately $28,170,208.53. This represents a 43.09% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,130,995 shares of company stock worth $29,686,039. Company insiders own 13.70% of the company's stock.

Institutional Trading of Rocket Lab

Several institutional investors have recently bought and sold shares of RKLB. Vanguard Group Inc. boosted its stake in Rocket Lab by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer's stock valued at $715,728,000 after buying an additional 3,833,969 shares in the last quarter. FMR LLC boosted its stake in Rocket Lab by 30,853.3% in the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock worth $94,141,000 after purchasing an additional 3,684,195 shares in the last quarter. Two Sigma Advisers LP acquired a new position in Rocket Lab in the fourth quarter worth $72,623,000. BNP Paribas Financial Markets acquired a new position in Rocket Lab in the fourth quarter worth $56,977,000. Finally, Two Sigma Investments LP acquired a new position in Rocket Lab in the fourth quarter worth $47,074,000. Institutional investors and hedge funds own 71.78% of the company's stock.

Rocket Lab 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.