Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) traded down 2.7% on Thursday . The company traded as low as $27.68 and last traded at $28.15. 7,845,607 shares were traded during mid-day trading, a decline of 52% from the average session volume of 16,236,108 shares. The stock had previously closed at $28.93.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on RKLB shares. Morgan Stanley lifted their price objective on 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. Needham & Company LLC boosted their target price on Rocket Lab USA from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday. Roth Capital increased their target price on shares of Rocket Lab USA from $25.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. Finally, The Goldman Sachs Group upped their price objective on shares of Rocket Lab USA from $14.35 to $16.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.18.
Read Our Latest Research Report on RKLB
Rocket Lab USA Stock Down 4.5%
The firm's fifty day moving average is $21.46 and its 200 day moving average is $23.20. 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 firm has a market cap of $12.53 billion, a P/E ratio of -74.56 and a beta of 2.04.
Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). 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 $122.57 million during the quarter, compared to the consensus estimate of $120.74 million. During the same quarter last year, the firm earned ($0.09) earnings per share. The business's revenue for the quarter was up 32.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.
Insider Buying and Selling at Rocket Lab USA
In other news, insider Frank Klein sold 1,835 shares of the stock in a transaction dated 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 transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 13.70% of the company's stock.
Institutional Investors Weigh In On Rocket Lab USA
Several hedge funds have recently modified their holdings of the company. Spectrum Wealth Counsel LLC acquired a new stake in shares of Rocket Lab USA during the fourth quarter valued at about $25,000. Sandy Spring Bank acquired a new stake in Rocket Lab USA during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in Rocket Lab USA during the 4th quarter worth approximately $40,000. Versant Capital Management Inc raised its stake in shares of 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 acquiring an additional 860 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB acquired a new position in shares of Rocket Lab USA during the first quarter worth $29,000. Institutional investors and hedge funds 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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