Rocket Lab USA (NASDAQ:RKLB) Shares Up 3.9% – Still a Buy?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) shot up 3.9% on Wednesday . The company traded as high as $20.04 and last traded at $19.74. 6,104,447 shares were traded during mid-day trading, a decline of 57% from the average session volume of 14,123,081 shares. The stock had previously closed at $19.00.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RKLB shares. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. The Goldman Sachs Group boosted their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Citigroup dropped 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 report on Friday, February 28th. Bank of America boosted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald increased their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Rocket Lab USA Trading Up 8.4 %

The stock has a fifty day simple moving average of $26.42 and a 200 day simple moving average of $18.17. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The firm has a market cap of $10.30 billion, a P/E ratio of -55.66 and a beta of 1.99.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The company had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. On average, research analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total transaction of $236,300.00. Following the sale, the director now owns 132,294 shares in the company, valued at approximately $3,126,107.22. This trade represents a 7.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Spectrum Wealth Counsel LLC bought a new stake in shares of Rocket Lab USA in the 4th quarter worth about $25,000. Sandy Spring Bank bought a new stake in shares of Rocket Lab USA in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Rocket Lab USA in the 4th quarter valued at approximately $40,000. Quarry LP purchased a new position in shares of Rocket Lab USA in the 4th quarter worth approximately $48,000. Finally, NewEdge Advisors LLC increased its position in shares of Rocket Lab USA by 1,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock valued at $49,000 after purchasing an additional 1,750 shares during 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.