Rocket Lab USA (NASDAQ:RKLB) Shares Gap Up - What's Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $26.45, but opened at $28.16. Rocket Lab USA shares last traded at $27.66, with a volume of 11,795,777 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RKLB shares. KeyCorp cut their price target on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Needham & Company LLC increased 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, May 28th. Morgan Stanley upped 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 report on Monday, March 10th. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Finally, Roth Capital boosted their target price on shares of Rocket Lab USA from $25.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Five 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $25.18.

Rocket Lab USA Trading Up 5.4%

The business's fifty day moving average is $22.37 and its 200-day moving average is $23.59. The stock has a market capitalization of $12.65 billion, a PE ratio of -75.26 and a beta of 2.08. 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 data on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing analysts' consensus estimates 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 company's revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.09) EPS. As a group, analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Frank Klein sold 1,835 shares of the company's stock in a transaction on 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 transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Arjun Kampani sold 5,277 shares of Rocket Lab USA stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total transaction of $158,151.69. Following the completion of the sale, the insider now owns 569,606 shares in the company, valued at approximately $17,071,091.82. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,937 shares of company stock valued at $3,285,279 over the last 90 days. 13.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds have recently modified their holdings of RKLB. Wellington Shields & Co. LLC boosted its holdings in Rocket Lab USA by 0.5% during the fourth quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer's stock worth $1,898,000 after buying an additional 383 shares in the last quarter. Allworth Financial LP increased its stake in shares of Rocket Lab USA by 4.0% in the first quarter. Allworth Financial LP now owns 11,888 shares of the rocket manufacturer's stock worth $213,000 after acquiring an additional 458 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in shares of Rocket Lab USA by 1.4% during the 1st quarter. Atria Wealth Solutions Inc. now owns 35,085 shares of the rocket manufacturer's stock worth $627,000 after purchasing an additional 500 shares in the last quarter. Signaturefd LLC raised its position in Rocket Lab USA by 12.2% during the fourth quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer's stock valued at $153,000 after acquiring an additional 653 shares in the last quarter. Finally, Focus Partners Wealth boosted its holdings in Rocket Lab USA by 1.0% in the first quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer's stock worth $1,206,000 after purchasing an additional 681 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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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