Rocket Lab USA (NASDAQ:RKLB) Trading Down 2.5% - What's Next?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) fell 2.5% on Thursday . The company traded as low as $22.77 and last traded at $23.52. 8,982,360 shares were traded during trading, a decline of 43% from the average session volume of 15,706,891 shares. The stock had previously closed at $24.13.

Analyst Upgrades and Downgrades

RKLB has been the subject of a number of research analyst reports. Morgan Stanley lifted their price objective on shares of 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. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 target price on shares of Rocket Lab USA in a research report on Tuesday, May 13th. The Goldman Sachs Group upped their price target on shares of Rocket Lab USA from $14.35 to $16.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. TD Cowen raised Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Finally, Wells Fargo & Company decreased their price target 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 research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Rocket Lab USA presently has an average rating of "Moderate Buy" and an average price target of $23.50.

Rocket Lab USA Stock Performance

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 firm has a market capitalization of $11.70 billion, a PE ratio of -69.73 and a beta of 2.04. The company's fifty day simple moving average is $20.19 and its 200 day simple moving average is $22.57.

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 analysts' consensus estimates 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 firm had revenue of $122.57 million during the quarter, compared to the consensus estimate of $120.74 million. During the same quarter last year, the business posted ($0.09) earnings per share. Rocket Lab USA's revenue was up 32.1% compared to the same quarter last year. As a group, equities research analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Frank Klein sold 44,553 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $18.18, for a total transaction of $809,973.54. Following the sale, the insider now owns 1,419,479 shares in the company, valued at approximately $25,806,128.22. This trade represents a 3.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 13.70% of the company's stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors have recently made changes to their positions in the business. Udine Wealth Management Inc. bought a new position in shares of Rocket Lab USA during the fourth quarter valued at about $1,342,000. Ariose Capital Management Ltd bought a new position in Rocket Lab USA during the 4th quarter worth approximately $1,871,000. Nisa Investment Advisors LLC increased its stake in Rocket Lab USA by 134.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 9,290 shares of the rocket manufacturer's stock worth $237,000 after purchasing an additional 5,325 shares during the period. Avior Wealth Management LLC lifted its position in Rocket Lab USA by 478.6% in the fourth quarter. Avior Wealth Management LLC now owns 6,966 shares of the rocket manufacturer's stock valued at $177,000 after purchasing an additional 5,762 shares during the last quarter. Finally, Zweig DiMenna Associates LLC bought a new position in shares of Rocket Lab USA in the fourth quarter worth approximately $4,725,000. Hedge funds and other 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.