Rocket Lab USA (NASDAQ:RKLB) Shares Down 1.6% - Time to Sell?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) traded down 1.6% during mid-day trading on Monday . The stock traded as low as $24.29 and last traded at $25.15. 7,112,976 shares were traded during trading, a decline of 55% from the average session volume of 15,881,207 shares. The stock had previously closed at $25.57.

Analyst Upgrades and Downgrades

RKLB has been the subject of several analyst reports. The Goldman Sachs Group raised their price objective on shares of Rocket Lab USA from $14.35 to $16.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Morgan Stanley lifted their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. KeyCorp decreased their price objective 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. TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Finally, Needham & Company LLC reissued a "buy" rating and set a $28.00 price objective on shares of Rocket Lab USA in a research note on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.50.

Rocket Lab USA Trading Up 0.9%

The firm has a market cap of $11.70 billion, a PE ratio of -69.73 and a beta of 2.04. The company's fifty day moving average price is $20.19 and its two-hundred day moving average price is $22.57. 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 issued its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $122.57 million for the quarter, compared to analyst estimates of $120.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business's revenue for the quarter was up 32.1% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS. As a group, sell-side analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the sale, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 13.70% of the company's stock.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently made changes to their positions in the company. SCS Capital Management LLC bought a new stake in Rocket Lab USA during the 1st quarter worth about $242,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Rocket Lab USA by 13.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer's stock worth $13,831,000 after buying an additional 90,758 shares in the last quarter. Caxton Associates LLP acquired a new position in Rocket Lab USA in the first quarter valued at about $671,000. Sender Co & Partners Inc. bought a new position in Rocket Lab USA in the first quarter valued at about $621,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Rocket Lab USA by 53.8% during the first quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer's stock worth $282,000 after purchasing an additional 5,507 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.

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