Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s stock price was down 0.6% during trading on Wednesday . The stock traded as low as $22.07 and last traded at $22.24. Approximately 2,327,962 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 15,498,650 shares. The stock had previously closed at $22.37.
Analyst Upgrades and Downgrades
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. KeyCorp decreased their price target on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" 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. Morgan Stanley lifted their target price on Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Finally, Needham & Company LLC began coverage on shares of Rocket Lab USA in a report on Friday, April 25th. They set a "buy" rating and a $28.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $23.25.
Read Our Latest Stock Report on Rocket Lab USA
Rocket Lab USA Price Performance
The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The company has a fifty day moving average of $19.53 and a 200 day moving average of $21.83. The firm has a market capitalization of $10.08 billion, a P/E ratio of -60.04 and a beta of 2.04.
Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). The firm had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Sell-side analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.
Insiders Place Their Bets
In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of Rocket Lab USA stock in a transaction on Friday, March 14th. The shares were sold at an average price of $18.18, for a total value of $809,973.54. Following the completion of the sale, the insider now directly owns 1,419,479 shares of the company's stock, valued at approximately $25,806,128.22. The trade was a 3.04 % decrease in their ownership of the stock. The transaction 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.
Institutional Investors Weigh In On Rocket Lab USA
Hedge funds have recently added to or reduced their stakes in the company. Spectrum Wealth Counsel LLC bought a new position in shares of Rocket Lab USA in the fourth quarter valued at $25,000. Sandy Spring Bank acquired a new position in Rocket Lab USA during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Rocket Lab USA in the fourth quarter worth approximately $40,000. Versant Capital Management Inc lifted its holdings in shares of Rocket Lab USA by 118.1% in 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 in the last quarter. Finally, MassMutual Private Wealth & Trust FSB bought a new stake in Rocket Lab USA during the first quarter worth $29,000. Institutional investors and hedge funds own 71.78% of the company's stock.
Rocket Lab USA Company Profile
(
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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