Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 3.9% - What's Next?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) were down 3.9% during trading on Wednesday . The stock traded as low as $19.92 and last traded at $20.24. Approximately 5,009,632 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 15,186,936 shares. The stock had previously closed at $21.07.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RKLB. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Citigroup decreased their price target on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Stifel Nicolaus raised their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Wells Fargo & Company lowered their target price on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, KeyCorp cut 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. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.72.

Rocket Lab USA Trading Down 1.2 %

The firm's fifty day simple moving average is $20.32 and its 200-day simple moving average is $20.86. 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 stock has a market cap of $8.95 billion, a P/E ratio of -53.35 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) 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 the consensus estimate of $130.58 million. Equities research analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Frank Klein sold 1,835 shares of the company's stock in a transaction dated 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 owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. This represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.70% of the company's stock.

Institutional Trading of Rocket Lab USA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer's stock valued at $80,317,000 after acquiring an additional 898,223 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Rocket Lab USA by 34.0% in the third quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer's stock valued at $207,000 after buying an additional 5,381 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Rocket Lab USA during the third quarter valued at about $107,000. Everence Capital Management Inc. bought a new stake in shares of Rocket Lab USA during the fourth quarter worth about $286,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Rocket Lab USA in the 4th quarter worth about $2,395,000. 71.78% of the stock is owned by 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.