Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 11,527,640 shares traded hands during mid-day trading, a decline of 29% from the previous session's volume of 16,162,530 shares.The stock last traded at $28.90 and had previously closed at $28.76.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on RKLB shares. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Citigroup dropped their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company dropped their price target on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Roth Capital lifted their price target on shares of Rocket Lab USA from $25.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Morgan Stanley raised their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Rocket Lab USA currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.18.
Read Our Latest Stock Analysis on Rocket Lab USA
Rocket Lab USA Stock Performance
The stock has a market capitalization of $12.75 billion, a P/E ratio of -76.60 and a beta of 2.04. The company's 50-day moving average is $21.46 and its two-hundred day moving average is $23.20. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.
Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The firm had revenue of $122.57 million during the quarter, compared to the consensus estimate of $120.74 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The company's revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.09) earnings per share. As a group, sell-side analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.
Insider Activity at Rocket Lab USA
In other news, insider Frank Klein sold 1,835 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the transaction, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. This represents a 0.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.70% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised its holdings in Rocket Lab USA by 0.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer's stock worth $2,187,000 after acquiring an additional 334 shares during the period. Wellington Shields & Co. LLC grew its position in Rocket Lab USA by 0.5% in the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer's stock worth $1,898,000 after purchasing an additional 383 shares during the last quarter. Allworth Financial LP grew its position in Rocket Lab USA by 4.0% in the 1st quarter. Allworth Financial LP now owns 11,888 shares of the rocket manufacturer's stock worth $213,000 after purchasing an additional 458 shares during the last quarter. Atria Wealth Solutions Inc. grew its position in Rocket Lab USA by 1.4% in the 1st quarter. Atria Wealth Solutions Inc. now owns 35,085 shares of the rocket manufacturer's stock worth $627,000 after purchasing an additional 500 shares during the last quarter. Finally, Signaturefd LLC grew its position in Rocket Lab USA by 12.2% in the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer's stock worth $153,000 after purchasing an additional 653 shares during the last quarter. Institutional investors own 71.78% of the company's stock.
About Rocket Lab USA
(
Get Free Report)
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.
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