Rocket Lab USA (NASDAQ:RKLB) Shares Down 2.3% - Here's Why

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s share price fell 2.3% during trading on Monday . The stock traded as low as $22.26 and last traded at $22.46. 3,139,080 shares traded hands during trading, a decline of 80% from the average session volume of 15,533,565 shares. The stock had previously closed at $22.99.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup decreased 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 report on Friday, February 28th. KeyCorp lowered their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Stifel Nicolaus upped their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Wells Fargo & Company reduced their price objective on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. 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 research note on Monday, March 10th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $23.25.

Rocket Lab USA Stock Performance

The stock's 50 day moving average is $19.57 and its 200 day moving average is $21.83. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The firm has a market cap of $10.35 billion, a price-to-earnings ratio of -61.93 and a beta of 2.04.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. Analysts anticipate 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 stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction 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. This represents a 0.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 13.70% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Spectrum Wealth Counsel LLC bought a new stake in shares of Rocket Lab USA in the fourth quarter worth approximately $25,000. Sandy Spring Bank bought a new position in shares of Rocket Lab USA during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Rocket Lab USA during the 4th quarter worth approximately $40,000. Versant Capital Management Inc lifted its position in Rocket Lab USA by 118.1% during the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock valued at $28,000 after purchasing an additional 860 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB purchased a new position in shares of Rocket Lab USA in the 1st quarter worth approximately $29,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

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.