Rocket Lab USA (NASDAQ:RKLB) Shares Up 4.2% After Analyst Upgrade

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) was up 4.2% during trading on Monday after The Goldman Sachs Group raised their price target on the stock from $14.35 to $16.00. The Goldman Sachs Group currently has a neutral rating on the stock. Rocket Lab USA traded as high as $21.80 and last traded at $21.38. Approximately 6,633,393 shares were traded during trading, a decline of 58% from the average daily volume of 15,616,818 shares. The stock had previously closed at $20.51.

Several other research firms have also recently commented on RKLB. Wells Fargo & Company lowered their price target on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Needham & Company LLC assumed coverage on shares of Rocket Lab USA in a research note on Friday, April 25th. They set a "buy" rating and a $28.00 price target for the company. Citigroup reduced their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Friday, February 28th. KeyCorp reduced their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, Morgan Stanley increased their price target on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.50.

Insider Buying and Selling

In related news, insider Frank Klein sold 44,553 shares of the business's stock in a transaction that occurred 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 in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 13.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

Institutional investors have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC acquired a new position in Rocket Lab USA during the fourth quarter valued at approximately $754,000. CHURCHILL MANAGEMENT Corp acquired a new position in Rocket Lab USA during the fourth quarter valued at approximately $1,758,000. Connective Portfolio Management LLC acquired a new position in Rocket Lab USA during the fourth quarter valued at approximately $586,000. Hennion & Walsh Asset Management Inc. lifted its position in Rocket Lab USA by 3.9% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 91,872 shares of the rocket manufacturer's stock valued at $2,340,000 after buying an additional 3,479 shares in the last quarter. Finally, Udine Wealth Management Inc. acquired a new position in shares of Rocket Lab USA during the fourth quarter worth $1,342,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab USA Trading Up 1.4%

The business's 50-day moving average price is $20.19 and its 200 day moving average price is $22.40. 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 firm has a market capitalization of $11.60 billion, a price-to-earnings ratio of -69.11 and a beta of 2.04.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $122.57 million for the quarter, compared to analyst estimates of $120.74 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. The company's revenue for the quarter was up 32.1% on a year-over-year basis. On average, equities analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

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.