Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 1.5% - Should You Buy?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) rose 1.5% during trading on Thursday . The company traded as high as $25.43 and last traded at $25.55. Approximately 6,168,319 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 15,977,655 shares. The stock had previously closed at $25.17.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RKLB. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of Rocket Lab USA in a report on Tuesday, May 13th. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Wells Fargo & Company reduced their price objective on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. KeyCorp decreased their target price on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Finally, Morgan Stanley lifted their price target on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $23.50.

Rocket Lab USA Stock Up 4.2%

The firm has a market capitalization of $11.90 billion, a PE ratio of -70.83 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. The firm's 50 day moving average price is $20.64 and its two-hundred day moving average price is $22.71.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). 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 $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. During the same period in the previous year, the business posted ($0.09) EPS. The business's revenue for the quarter was up 32.1% on a year-over-year basis. As a group, research analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. This represents a 0.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RKLB. Chicago Partners Investment Group LLC grew its position in shares of Rocket Lab USA by 0.4% during the fourth quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer's stock worth $2,187,000 after acquiring an additional 334 shares during the last quarter. Wellington Shields & Co. LLC increased its stake in shares of Rocket Lab USA by 0.5% in the fourth 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 during the period. 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 valued at $213,000 after purchasing an additional 458 shares during the period. Atria Wealth Solutions Inc. raised its holdings in shares of Rocket Lab USA by 1.4% during the first quarter. Atria Wealth Solutions Inc. now owns 35,085 shares of the rocket manufacturer's stock valued at $627,000 after buying an additional 500 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Rocket Lab USA by 12.2% during the fourth quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer's stock worth $153,000 after buying an additional 653 shares during the period. 71.78% of the stock is currently owned by 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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