Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 1.2% - What's Next?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) dropped 1.2% during trading on Tuesday . The stock traded as low as $22.30 and last traded at $22.39. Approximately 2,341,912 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 15,446,387 shares. The stock had previously closed at $22.67.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RKLB. The Goldman Sachs Group increased their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a research report on Thursday, January 16th. Citigroup lowered their target price 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. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. Wells Fargo & Company lowered their price objective on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Needham & Company LLC began coverage on shares of Rocket Lab USA in a research report on Friday. They set a "buy" rating and a $28.00 target price for the company. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Rocket Lab USA currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.25.

Rocket Lab USA Trading Down 0.2 %

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 stock has a market cap of $10.26 billion, a P/E ratio of -61.06 and a beta of 2.08. The firm's fifty day moving average price is $19.50 and its two-hundred day moving average price is $21.41.

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 business had revenue of $132.39 million during 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%. As a group, equities research analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Transactions at Rocket Lab USA

In related news, insider Frank Klein sold 44,553 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $18.18, for a total value of $809,973.54. Following the transaction, the insider now owns 1,419,479 shares of the company's stock, valued at $25,806,128.22. This represents a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 13.70% of the company's stock.

Hedge Funds Weigh In On Rocket Lab USA

Several institutional investors have recently modified their holdings of the company. Chicago Partners Investment Group LLC boosted its stake in Rocket Lab USA by 0.4% in the fourth quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer's stock worth $2,187,000 after buying an additional 334 shares in the last quarter. Wellington Shields & Co. LLC boosted its stake in shares of Rocket Lab USA by 0.5% in the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer's stock valued at $1,898,000 after purchasing an additional 383 shares in the last quarter. Signaturefd LLC raised its position in Rocket Lab USA by 12.2% in the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer's stock worth $153,000 after purchasing an additional 653 shares during the period. Envestnet Asset Management Inc. raised its position in Rocket Lab USA by 3.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer's stock worth $554,000 after purchasing an additional 696 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in Rocket Lab USA by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer's stock worth $384,000 after purchasing an additional 746 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

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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