Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 2.8% on Analyst Upgrade

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) traded up 2.8% during trading on Wednesday after Roth Capital raised their price target on the stock from $25.00 to $35.00. Roth Capital currently has a buy rating on the stock. Rocket Lab USA traded as high as $30.78 and last traded at $29.55. 15,207,302 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 16,177,728 shares. The stock had previously closed at $28.76.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus increased their price objective on Rocket Lab USA from $29.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday. Citigroup decreased their price objective on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a report on Friday, February 28th. Wells Fargo & Company decreased their price objective on 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. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Finally, Morgan Stanley increased their price objective on 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 analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $25.18.

Insider Activity

In other news, insider Frank Klein sold 44,553 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54. Following the completion of the transaction, the insider now directly owns 1,419,479 shares in the company, valued at $25,806,128.22. This trade represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 13.70% of the company's stock.

Institutional Investors Weigh In On Rocket Lab USA

Large investors have recently bought and sold shares of the business. Spectrum Wealth Counsel LLC bought a new stake in Rocket Lab USA in the 4th quarter worth about $25,000. Sandy Spring Bank bought a new stake in Rocket Lab USA in the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new stake in Rocket Lab USA in the 4th quarter worth about $40,000. Versant Capital Management Inc increased its holdings 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 worth $28,000 after buying an additional 860 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB bought a new stake in Rocket Lab USA in the 1st quarter worth about $29,000. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Price Performance

The firm has a fifty day moving average of $21.46 and a 200 day moving average of $23.20. The company has a market capitalization of $12.73 billion, a P/E ratio of -76.08 and a beta of 2.04. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The business had revenue of $122.57 million during the quarter, compared to the consensus estimate of $120.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Rocket Lab USA's quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) earnings per share. On average, equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current 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.