Rocket Lab USA (NASDAQ:RKLB) Trading Up 1% – Here’s What Happened

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price traded up 1% during mid-day trading on Wednesday . The company traded as high as $18.41 and last traded at $18.16. 2,773,695 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 14,400,421 shares. The stock had previously closed at $17.98.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Stifel Nicolaus increased their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. 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 research note on Monday, March 10th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. KeyCorp reduced their price target on shares of 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. Finally, The Goldman Sachs Group upped their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Five 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Stock Down 0.4 %

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 business’s 50 day moving average is $24.36 and its 200-day moving average is $19.01. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of -49.91 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). 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 $132.39 million during the quarter, compared to analyst estimates of $130.58 million. On average, sell-side analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the sale, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

Large investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC boosted its stake in shares of Rocket Lab USA by 0.4% in 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 during the period. Wellington Shields & Co. LLC grew its holdings in Rocket Lab USA by 0.5% during the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer’s stock worth $1,898,000 after acquiring an additional 383 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Rocket Lab USA by 12.2% in the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock valued at $153,000 after purchasing an additional 653 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Rocket Lab USA by 3.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer’s stock valued at $554,000 after buying an additional 696 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Rocket Lab USA by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock worth $384,000 after buying an additional 746 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

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.