Rocket Lab USA (NASDAQ:RKLB) Shares Gap Down – Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) gapped down prior to trading on Tuesday . The stock had previously closed at $17.12, but opened at $16.31. Rocket Lab USA shares last traded at $17.22, with a volume of 2,837,942 shares trading hands.

Wall Street Analyst Weigh In

RKLB has been the topic of several research reports. Morgan Stanley raised their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday. Bank of America upped 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. Cantor Fitzgerald raised their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Stifel Nicolaus increased their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, KeyCorp dropped their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.06.

Rocket Lab USA Price Performance

The company has a market cap of $8.97 billion, a PE ratio of -48.51 and a beta of 2.06. The stock has a fifty day simple moving average of $25.74 and a two-hundred day simple moving average of $18.51. 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) last announced its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. On average, equities analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total transaction of $236,300.00. Following the transaction, the director now directly owns 132,294 shares in the company, valued at approximately $3,126,107.22. This represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently modified their holdings of RKLB. FMR LLC increased its stake in Rocket Lab USA by 30,853.3% in the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock valued at $94,141,000 after purchasing an additional 3,684,195 shares in the last quarter. Two Sigma Advisers LP acquired a new position in Rocket Lab USA during the fourth quarter worth about $72,623,000. BNP Paribas Financial Markets purchased a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $56,977,000. Two Sigma Investments LP acquired a new stake in shares of Rocket Lab USA in the fourth quarter valued at approximately $47,074,000. Finally, Renaissance Technologies LLC lifted its stake in Rocket Lab USA by 1,765.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer’s stock valued at $46,325,000 after buying an additional 1,721,300 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.