Rocket Lab USA (NASDAQ:RKLB) Trading Up 2.8% After Analyst Upgrade

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) shot 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 were traded 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.

Several other equities analysts have also issued reports on the company. 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 research report on Friday, February 28th. Morgan Stanley boosted their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Stifel Nicolaus boosted their price objective on Rocket Lab USA from $29.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday. The Goldman Sachs Group boosted their price objective on Rocket Lab USA from $14.35 to $16.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Finally, TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.18.

Insiders Place Their Bets

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 value of $36,571.55. Following the completion of the sale, the insider now owns 1,417,644 shares of the company's stock, valued at approximately $28,253,644.92. This represents a 0.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Arjun Kampani sold 5,277 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total value of $158,151.69. Following the completion of the sale, the insider now directly owns 569,606 shares of the company's stock, valued at approximately $17,071,091.82. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,234 shares of company stock valued at $1,081,690 in the last quarter. 13.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several large investors have recently made changes to their positions in RKLB. Spectrum Wealth Counsel LLC acquired a new stake in shares of Rocket Lab USA in the 4th quarter valued at approximately $25,000. Sandy Spring Bank acquired a new stake in shares of Rocket Lab USA in the 4th quarter valued at approximately $26,000. Versant Capital Management Inc boosted its holdings in shares of 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 shares of Rocket Lab USA in the 1st quarter valued at approximately $29,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of 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 and hedge funds own 71.78% of the company's stock.

Rocket Lab USA Trading Down 2.6%

The company has a market cap of $12.09 billion, a price-to-earnings ratio of -72.03 and a beta of 2.04. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The firm has a fifty day moving average price of $21.73 and a 200 day moving average price of $23.37.

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

About Rocket Lab USA

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.