Rocket Lab USA (NASDAQ:RKLB) Trading Up 0.3% - Here's Why

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) shot up 0.3% on Friday . The company traded as high as $25.75 and last traded at $25.30. 9,745,935 shares were traded during mid-day trading, a decline of 38% from the average session volume of 15,773,101 shares. The stock had previously closed at $25.22.

Analyst Ratings Changes

RKLB has been the subject of several analyst reports. KeyCorp lowered their target price on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Citigroup cut their target price on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Wells Fargo & Company cut their price objective on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research 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 target price on Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Rocket Lab USA has a consensus rating of "Moderate Buy" and an average target price of $23.50.

Rocket Lab USA Stock Up 1.0%

The firm has a market capitalization of $11.55 billion, a PE ratio of -68.98 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. The firm has a 50-day moving average of $20.04 and a two-hundred day moving average of $22.31.

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 company had revenue of $122.57 million during the quarter, compared to analyst estimates of $120.74 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The firm's revenue for the quarter was up 32.1% on a year-over-year basis. On average, equities research analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other news, insider Frank Klein sold 44,553 shares of Rocket Lab USA stock in a transaction that occurred 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 sale, the insider now owns 1,419,479 shares of the company's stock, valued at approximately $25,806,128.22. The trade was a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 13.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC grew its position in Rocket Lab USA by 0.4% in the fourth quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer's stock worth $2,187,000 after buying an additional 334 shares during the last quarter. Wellington Shields & Co. LLC boosted its stake in shares of Rocket Lab USA by 0.5% during the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer's stock valued at $1,898,000 after buying an additional 383 shares during the period. Allworth Financial LP lifted its stake in shares of 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 purchasing an additional 458 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in shares of Rocket Lab USA by 1.4% in the 1st quarter. Atria Wealth Solutions Inc. now owns 35,085 shares of the rocket manufacturer's stock valued at $627,000 after purchasing an additional 500 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Rocket Lab USA by 12.2% in the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer's stock worth $153,000 after acquiring an additional 653 shares during the period. Institutional investors and hedge funds own 71.78% of the company's stock.

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.

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