Rocket Lab USA (NASDAQ:RKLB) Trading 0.3% Higher - Should You Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s stock price rose 0.3% during trading on Friday . The stock traded as high as $22.56 and last traded at $21.95. Approximately 5,274,881 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 15,394,929 shares. The stock had previously closed at $21.88.

Analysts Set New Price Targets

Several research firms have weighed in on RKLB. Needham & Company LLC started coverage on shares of Rocket Lab USA in a research report on Friday. They set a "buy" rating and a $28.00 price objective on the stock. KeyCorp lowered their price target on 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 increased their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Wells Fargo & Company lowered their target price 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, Stifel Nicolaus increased their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $23.25.

Rocket Lab USA Price Performance

The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The company's 50-day simple moving average is $19.50 and its 200 day simple moving average is $21.41. The company has a market capitalization of $10.16 billion, a P/E ratio of -60.54 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its quarterly 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). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The company had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. As a group, sell-side analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Frank Klein sold 1,835 shares of the business's stock in a transaction dated 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 owns 1,417,644 shares of the company's stock, valued at approximately $28,253,644.92. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.70% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RKLB. Spectrum Wealth Counsel LLC bought a new position in Rocket Lab USA during the fourth quarter worth $25,000. Sandy Spring Bank acquired a new stake in Rocket Lab USA in the 4th quarter worth $26,000. Versant Capital Management Inc increased its holdings in shares of Rocket Lab USA by 118.1% during the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock worth $28,000 after purchasing an additional 860 shares during the period. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Rocket Lab USA during the first quarter valued at about $29,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Rocket Lab USA by 181.1% in the first quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock valued at $35,000 after buying an additional 1,226 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.