Rocket Lab USA (NASDAQ:RKLB) Shares Down 3.4% - What's Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) shares were down 3.4% during mid-day trading on Friday . The company traded as low as $24.77 and last traded at $24.93. Approximately 5,819,162 shares were traded during trading, a decline of 64% from the average daily volume of 16,031,384 shares. The stock had previously closed at $25.82.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 target price on shares of Rocket Lab USA in a research note on Tuesday, May 13th. KeyCorp cut their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. The Goldman Sachs Group lifted 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. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Finally, Morgan Stanley raised 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. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.50.

Rocket Lab USA Trading Down 1.6%

The stock has a market capitalization of $11.53 billion, a P/E ratio of -68.69 and a beta of 2.04. The stock's 50 day moving average price is $20.77 and its 200-day moving average price is $22.81. 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 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 company had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. The firm's revenue was up 32.1% compared to the same quarter last year. During the same period last year, the business posted ($0.09) EPS. As a group, equities research analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Frank Klein sold 44,553 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54. Following the transaction, the insider now directly owns 1,419,479 shares of the company's stock, valued at approximately $25,806,128.22. This represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds have recently modified their holdings of RKLB. Nisa Investment Advisors LLC increased its holdings in shares of Rocket Lab USA by 134.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 9,290 shares of the rocket manufacturer's stock valued at $237,000 after purchasing an additional 5,325 shares during the period. Avior Wealth Management LLC boosted its holdings in Rocket Lab USA by 478.6% in the fourth quarter. Avior Wealth Management LLC now owns 6,966 shares of the rocket manufacturer's stock valued at $177,000 after purchasing an additional 5,762 shares during the last quarter. Zweig DiMenna Associates LLC purchased a new stake in Rocket Lab USA in the fourth quarter valued at $4,725,000. Harel Insurance Investments & Financial Services Ltd. grew its position in Rocket Lab USA by 52.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 37,728 shares of the rocket manufacturer's stock worth $961,000 after purchasing an additional 13,040 shares during the period. Finally, McGuire Investment Group LLC purchased a new position in shares of Rocket Lab USA during the 4th quarter valued at about $310,000. 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.

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