Rocket Lab USA (NASDAQ:RKLB) Trading Up 0.4% - Should You Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s share price traded up 0.4% on Tuesday . The stock traded as high as $26.22 and last traded at $25.91. 5,997,216 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 15,883,092 shares. The stock had previously closed at $25.80.

Analyst Upgrades and Downgrades

RKLB has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price objective 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. Citigroup dropped 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 report on Monday, March 10th. KeyCorp lowered their price objective 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. Finally, Wells Fargo & Company cut their target price on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Five equities 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $23.50.

Rocket Lab USA Stock Up 1.3%

The company has a market cap of $11.85 billion, a price-to-earnings ratio of -70.11 and a beta of 2.04. The stock's 50-day moving average is $20.34 and its 200-day moving average is $22.67. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings data 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). 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 for the quarter, compared to the consensus estimate of $120.74 million. During the same period last year, the company posted ($0.09) earnings per share. Rocket Lab USA's revenue for the quarter was up 32.1% on a year-over-year basis. On average, analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

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 directly owns 1,419,479 shares in the company, valued at $25,806,128.22. This trade represents a 3.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 13.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Several institutional investors have recently made changes to their positions in RKLB. Chicago Partners Investment Group LLC grew its holdings in Rocket Lab USA by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer's stock valued at $2,187,000 after buying an additional 334 shares in the last quarter. Wellington Shields & Co. LLC grew its stake in Rocket Lab USA by 0.5% during the fourth quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer's stock valued at $1,898,000 after acquiring an additional 383 shares in the last quarter. Allworth Financial LP increased 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 acquiring an additional 458 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in 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 acquiring an additional 500 shares during the last quarter. Finally, Signaturefd LLC lifted its stake 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 purchasing an additional 653 shares in the last quarter. 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.

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