Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 0.4% - Here's Why

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) rose 0.4% on Wednesday . The company traded as high as $26.28 and last traded at $26.11. Approximately 4,142,956 shares were traded during trading, a decline of 74% from the average daily volume of 15,924,073 shares. The stock had previously closed at $26.00.

Analyst Upgrades and Downgrades

RKLB has been the topic of a number of recent research reports. Needham & Company LLC reissued a "buy" rating and set a $28.00 target price on shares of Rocket Lab USA in a research report on Tuesday, May 13th. Morgan Stanley lifted their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. The Goldman Sachs Group lifted their price objective on Rocket Lab USA from $14.35 to $16.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Wells Fargo & Company decreased their price objective on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, TD Cowen raised Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. 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's stock. According to data from MarketBeat, Rocket Lab USA has a consensus rating of "Moderate Buy" and a consensus target price of $23.50.

Rocket Lab USA Price Performance

The company's fifty day moving average price is $20.51 and its 200 day moving average price is $22.69. The company has a market capitalization of $11.65 billion, a P/E ratio of -70.48 and a beta of 2.04. 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 announced its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). 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 $122.57 million during the quarter, compared to the consensus estimate of $120.74 million. During the same period last year, the business earned ($0.09) earnings per share. The business's revenue was up 32.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling

In other news, insider Frank Klein sold 1,835 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were 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 of the company's stock, valued at $28,253,644.92. This represents a 0.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.70% of the stock is currently owned by company insiders.

Institutional Trading of Rocket Lab USA

A number of institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its stake in Rocket Lab USA by 134.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 9,290 shares of the rocket manufacturer's stock worth $237,000 after purchasing an additional 5,325 shares in the last quarter. Avior Wealth Management LLC grew its holdings in Rocket Lab USA by 478.6% in the 4th quarter. Avior Wealth Management LLC now owns 6,966 shares of the rocket manufacturer's stock worth $177,000 after acquiring an additional 5,762 shares during the last quarter. Zweig DiMenna Associates LLC bought a new stake in Rocket Lab USA in the 4th quarter worth $4,725,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Rocket Lab USA by 52.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 37,728 shares of the rocket manufacturer's stock worth $961,000 after acquiring an additional 13,040 shares during the last quarter. Finally, McGuire Investment Group LLC purchased a new stake in shares of Rocket Lab USA in the 4th quarter worth about $310,000. 71.78% of the stock is currently owned by hedge funds and other 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.

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