Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) shares rose 0.5% during mid-day trading on Thursday . The company traded as high as $23.05 and last traded at $22.41. Approximately 3,922,250 shares were traded during trading, a decline of 75% from the average daily volume of 15,467,998 shares. The stock had previously closed at $22.29.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on RKLB shares. Citigroup reduced their target price on shares of 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. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. The Goldman Sachs Group lifted their target price on shares of Rocket Lab USA from $14.35 to $16.00 and gave the stock a "neutral" rating in a research report on Monday. Needham & Company LLC initiated coverage on Rocket Lab USA in a report on Friday, April 25th. They issued a "buy" rating and a $28.00 target price for the company. Finally, KeyCorp decreased their price target on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Five 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 stock. According to MarketBeat, Rocket Lab USA has a consensus rating of "Moderate Buy" and a consensus target price of $23.50.
Check Out Our Latest Report on Rocket Lab USA
Rocket Lab USA Trading Up 3.7%
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 firm has a fifty day simple moving average of $19.69 and a two-hundred day simple moving average of $22.13. The firm has a market capitalization of $9.64 billion, a P/E ratio of -57.46 and a beta of 2.04.
Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $120.74 million. During the same period in the prior year, the company earned ($0.09) EPS. The firm's quarterly revenue was up 32.1% on a year-over-year basis. On average, equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, insider Frank Klein sold 44,553 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were 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 $25,806,128.22. The trade was a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 13.70% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of RKLB. Harbor Capital Advisors Inc. purchased a new stake in shares of Rocket Lab USA during the fourth quarter worth $2,395,000. SeaCrest Wealth Management LLC purchased a new stake in Rocket Lab USA during the 4th quarter worth about $754,000. Smith Anglin Financial LLC boosted its stake in Rocket Lab USA by 10.3% in the 4th quarter. Smith Anglin Financial LLC now owns 11,746 shares of the rocket manufacturer's stock worth $299,000 after purchasing an additional 1,096 shares during the period. CHURCHILL MANAGEMENT Corp purchased a new position in Rocket Lab USA during the 4th quarter valued at about $1,758,000. Finally, Connective Portfolio Management LLC bought a new stake in shares of Rocket Lab USA during the fourth quarter valued at about $586,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.
Rocket Lab USA Company Profile
(
Get Free Report)
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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