Rocket Lab USA (NASDAQ:RKLB) Sees Large Volume Increase - Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) shares saw strong trading volume on Monday . 13,854,093 shares changed hands during trading, a decline of 17% from the previous session's volume of 16,712,663 shares.The stock last traded at $32.36 and had previously closed at $28.92.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Cantor Fitzgerald upped their target price on Rocket Lab USA from $29.00 to $35.00 and gave the stock an "overweight" rating in a report on Tuesday. KeyCorp reiterated an "overweight" rating on shares of Rocket Lab USA in a report on Tuesday, June 3rd. Stifel Nicolaus raised their price target on shares of Rocket Lab USA from $29.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Wells Fargo & Company cut 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 report on Tuesday, April 8th. Finally, Needham & Company LLC increased their price objective on Rocket Lab USA from $28.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Five equities research 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $26.18.

Rocket Lab USA Stock Up 0.7%

The firm has a market cap of $12.41 billion, a price-to-earnings ratio of -73.94 and a beta of 2.08. The firm has a 50 day moving average of $22.98 and a 200 day moving average of $23.75. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The company had revenue of $122.57 million for the quarter, compared to analyst estimates of $120.74 million. During the same period last year, the business earned ($0.09) EPS. The business's quarterly revenue was up 32.1% compared to the same quarter last year. As a group, sell-side analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Activity

In related news, insider Frank Klein sold 1,835 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the transaction, the insider now directly owns 1,417,644 shares of the company's stock, valued at approximately $28,253,644.92. This represents a 0.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Arjun Kampani sold 5,194 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $26.52, for a total value of $137,744.88. Following the sale, the insider now owns 535,424 shares of the company's stock, valued at approximately $14,199,444.48. This represents a 0.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 144,677 shares of company stock worth $3,517,479. Company insiders own 13.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Empowered Funds LLC bought a new stake in shares of Rocket Lab USA during the fourth quarter worth about $288,000. Entropy Technologies LP bought a new stake in Rocket Lab USA during the 4th quarter worth approximately $1,044,000. Newbridge Financial Services Group Inc. bought a new stake in Rocket Lab USA during the 4th quarter worth approximately $76,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Rocket Lab USA in the fourth quarter worth approximately $40,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Rocket Lab USA by 26.9% in the fourth quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer's stock valued at $4,237,000 after purchasing an additional 35,293 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

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.