Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 3.9% - Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s share price rose 3.9% during trading on Friday . The company traded as high as $23.42 and last traded at $22.98. Approximately 5,578,979 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 15,477,883 shares. The stock had previously closed at $22.12.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Citigroup cut their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a report on Friday, February 28th. Wells Fargo & Company lowered their price objective on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group increased their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a report on Thursday, January 16th. KeyCorp lowered their price target on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Finally, Stifel Nicolaus increased their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Rocket Lab USA has a consensus rating of "Moderate Buy" and an average target price of $23.25.

Rocket Lab USA Trading Down 0.5 %

The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $10.15 billion, a price-to-earnings ratio of -60.46 and a beta of 2.04. The company's 50-day moving average is $19.48 and its 200-day moving average is $21.82.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $132.39 million for the quarter, compared to analysts' expectations of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. Research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the business's stock in a transaction dated Monday, March 17th. The shares were 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 approximately $28,253,644.92. The trade was a 0.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.70% of the company's stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of hedge funds have recently made changes to their positions in RKLB. Spectrum Wealth Counsel LLC acquired a new position in Rocket Lab USA during the 4th quarter worth about $25,000. Sandy Spring Bank acquired a new stake in shares of Rocket Lab USA during the fourth quarter worth about $26,000. Versant Capital Management Inc lifted its position in shares of Rocket Lab USA by 118.1% during the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock worth $28,000 after purchasing an additional 860 shares in the last quarter. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Rocket Lab USA in the first quarter valued at approximately $29,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of 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 purchasing an additional 1,226 shares in the last quarter. Hedge funds and other institutional investors 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.