Rocket Lab USA (NASDAQ:RKLB) Trading Down 1.4% - Here's Why

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) fell 1.4% during trading on Friday . The company traded as low as $25.46 and last traded at $26.03. 5,181,809 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 16,988,945 shares. The stock had previously closed at $26.40.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RKLB. KeyCorp restated an "overweight" rating on shares of Rocket Lab USA in a research report on Tuesday, June 3rd. Citigroup decreased their price target on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Morgan Stanley raised their price target on Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Stifel Nicolaus raised their price target on Rocket Lab USA from $29.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Finally, Roth Capital raised their price objective on Rocket Lab USA from $25.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Five equities research 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $26.18.

Rocket Lab USA Stock Performance

The company has a market capitalization of $11.52 billion, a P/E ratio of -68.67 and a beta of 2.08. 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 fifty day moving average price of $23.54 and a two-hundred day moving average price of $23.78.

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 the consensus estimate of ($0.10) by ($0.02). The firm had revenue of $122.57 million for 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%. The business's revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) earnings per share. Equities analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Activity at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the company's 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 sale, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. This represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Arjun Kampani sold 5,194 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $26.52, for a total value of $137,744.88. Following the completion of the sale, the insider now owns 535,424 shares in the company, valued at $14,199,444.48. The trade was a 0.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,124 shares of company stock worth $2,707,506 over the last ninety days. Insiders own 13.70% of the company's stock.

Institutional Trading of Rocket Lab USA

Several institutional investors have recently added to or reduced their stakes in RKLB. Spectrum Wealth Counsel LLC bought a new stake in Rocket Lab USA in the fourth quarter valued at approximately $25,000. Sandy Spring Bank acquired a new position in Rocket Lab USA in the fourth quarter valued at approximately $26,000. Versant Capital Management Inc lifted its stake in Rocket Lab USA by 118.1% in the first 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 period. MassMutual Private Wealth & Trust FSB acquired a new position in Rocket Lab USA in the first quarter valued at approximately $29,000. Finally, Farther Finance Advisors LLC lifted its stake in Rocket Lab USA by 181.1% in the first 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 period. 71.78% of the stock is currently owned by institutional investors.

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.