Rocket Lab USA (NASDAQ:RKLB) Trading Down 1.3% - Here's What Happened

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s stock price was down 1.3% during trading on Monday . The company traded as low as $22.37 and last traded at $22.09. Approximately 5,831,685 shares were traded during trading, a decline of 62% from the average daily volume of 15,470,583 shares. The stock had previously closed at $22.38.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RKLB. Wells Fargo & Company decreased their target price on 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. TD Cowen raised Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. Citigroup reduced their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Friday, February 28th. KeyCorp dropped their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Finally, The Goldman Sachs Group upped their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a research report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $23.25.

Rocket Lab USA Stock Up 0.3 %

The business's 50 day simple moving average is $19.41 and its 200-day simple moving average is $21.42. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The company has a market cap of $9.91 billion, a price-to-earnings ratio of -59.09 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The firm had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Sell-side analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In other Rocket Lab USA 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 directly owns 1,417,644 shares of the company's stock, valued at $28,253,644.92. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 13.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Lab USA

A number of institutional investors and hedge funds have recently made changes to their positions in RKLB. Vanguard Group Inc. raised its position in shares of Rocket Lab USA by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer's stock valued at $921,901,000 after purchasing an additional 668,093 shares during the period. Geode Capital Management LLC raised its holdings in Rocket Lab USA by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer's stock worth $211,084,000 after acquiring an additional 32,658 shares during the period. FMR LLC lifted its position in Rocket Lab USA by 30,853.3% during the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock worth $94,141,000 after acquiring an additional 3,684,195 shares during the last quarter. Northern Trust Corp boosted its holdings in Rocket Lab USA by 9.5% during the fourth quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer's stock valued at $82,207,000 after acquiring an additional 281,339 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Rocket Lab USA by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer's stock valued at $73,919,000 after purchasing an additional 23,855 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

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.