Rocket Lab USA (NASDAQ:RKLB) Shares Up 10.7% - Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s stock price rose 10.7% on Tuesday . The company traded as high as $28.58 and last traded at $28.14. Approximately 9,190,377 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 16,126,148 shares. The stock had previously closed at $25.42.

Analyst Upgrades and Downgrades

RKLB has been the subject of a number of research reports. Stifel Nicolaus raised their target price on Rocket Lab USA from $29.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. The Goldman Sachs Group raised their target price on Rocket Lab USA from $14.35 to $16.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Needham & Company LLC raised their target price on Rocket Lab USA from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Wells Fargo & Company lowered their target price on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.18.

Rocket Lab USA Stock Performance

The firm has a fifty day moving average of $21.60 and a 200-day moving average of $23.29. The firm has a market cap of $12.09 billion, a P/E ratio of -72.03 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 issued its earnings results 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 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 quarter last year, the business posted ($0.09) EPS. Rocket Lab USA's quarterly revenue was up 32.1% on a year-over-year basis. Research analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Frank Klein sold 1,835 shares of Rocket Lab USA 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 transaction, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. The trade was a 0.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Arjun Kampani sold 5,277 shares of Rocket Lab USA stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total value of $158,151.69. Following the transaction, the insider now owns 569,606 shares in the company, valued at $17,071,091.82. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,234 shares of company stock worth $1,081,690 in the last 90 days. Corporate insiders own 13.70% of the company's stock.

Hedge Funds Weigh In On Rocket Lab USA

Institutional investors have recently modified their holdings of the business. Spectrum Wealth Counsel LLC bought a new position in shares of Rocket Lab USA during the 4th quarter valued at about $25,000. Sandy Spring Bank acquired a new stake in Rocket Lab USA in the 4th quarter valued at approximately $26,000. Versant Capital Management Inc raised its position in Rocket Lab USA by 118.1% in the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock valued at $28,000 after buying an additional 860 shares during the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in Rocket Lab USA in the 1st quarter valued at approximately $29,000. Finally, Farther Finance Advisors LLC raised its position in Rocket Lab USA by 181.1% in the 1st 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 last quarter. Institutional investors own 71.78% of the company's stock.

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.