Rocket Lab USA (NASDAQ:RKLB) Shares Up 9.7% - What's Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s share price rose 9.7% on Monday . The company traded as high as $32.70 and last traded at $31.71. Approximately 29,577,553 shares were traded during trading, an increase of 76% from the average daily volume of 16,757,883 shares. The stock had previously closed at $28.92.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Morgan Stanley lifted their target price on Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Roth Capital boosted their price objective on shares of Rocket Lab USA from $25.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Needham & Company LLC raised their target price on shares of Rocket Lab USA from $28.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Citigroup lowered their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Finally, Wells Fargo & Company cut 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. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Rocket Lab USA presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.18.

Rocket Lab USA Stock Up 0.7%

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 company has a market capitalization of $12.41 billion, a price-to-earnings ratio of -73.94 and a beta of 2.08. The firm's 50-day simple moving average is $22.98 and its two-hundred day simple moving average is $23.75.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The firm had revenue of $122.57 million during the quarter, compared to analyst estimates of $120.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business's revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. Sell-side analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity

In related news, insider Frank Klein sold 44,553 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $18.18, for a total value of $809,973.54. Following the sale, the insider now owns 1,419,479 shares of the company's stock, valued at approximately $25,806,128.22. This represents a 3.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Arjun Kampani sold 28,988 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $26.66, for a total value of $772,820.08. Following the completion of the sale, the insider now owns 540,618 shares in the company, valued at $14,412,875.88. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 144,677 shares of company stock worth $3,517,479 over the last 90 days. 13.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several hedge funds have recently made changes to their positions in RKLB. Wellington Shields & Co. LLC increased its stake in 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 last quarter. Allworth Financial LP grew its holdings in Rocket Lab USA by 4.0% in the 1st quarter. Allworth Financial LP now owns 11,888 shares of the rocket manufacturer's stock valued at $213,000 after buying an additional 458 shares during the period. Atria Wealth Solutions Inc. increased its stake in shares of Rocket Lab USA by 1.4% during the 1st quarter. Atria Wealth Solutions Inc. now owns 35,085 shares of the rocket manufacturer's stock valued at $627,000 after acquiring an additional 500 shares during the last quarter. Signaturefd LLC increased its stake in shares of Rocket Lab USA by 12.2% during the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer's stock valued at $153,000 after acquiring an additional 653 shares during the last quarter. Finally, Focus Partners Wealth lifted its holdings in shares of Rocket Lab USA by 1.0% during the 1st quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer's stock worth $1,206,000 after acquiring an additional 681 shares during the period. Institutional investors and hedge funds 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.