Rocket Lab USA (NASDAQ:RKLB) Trading Up 5% – What’s Next?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) shot up 5% during mid-day trading on Monday . The stock traded as high as $18.24 and last traded at $17.19. 11,457,975 shares were traded during trading, a decline of 23% from the average session volume of 14,878,581 shares. The stock had previously closed at $16.37.

Analyst Ratings Changes

RKLB has been the topic of several research analyst reports. KeyCorp reduced their price objective 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. Morgan Stanley lifted their price target on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Wells Fargo & Company dropped their price objective on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Citigroup decreased their target price on 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. Finally, TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Five 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.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average target price of $22.72.

Rocket Lab USA Stock Up 19.8 %

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 50 day simple moving average of $21.86 and a two-hundred day simple moving average of $20.24. The stock has a market cap of $9.34 billion, a P/E ratio of -55.65 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB) last issued 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 company had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. Equities research analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Activity at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the transaction, the insider now owns 1,417,644 shares of the company’s stock, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Hedge funds and other institutional investors have recently bought and sold shares of the business. Spectrum Wealth Counsel LLC acquired a new position in shares of Rocket Lab USA in the 4th quarter worth approximately $25,000. Sandy Spring Bank bought a new position in shares of Rocket Lab USA in the fourth quarter valued at $26,000. Versant Capital Management Inc increased its holdings in shares of Rocket Lab USA by 118.1% in the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer’s stock valued at $28,000 after buying an additional 860 shares in the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Rocket Lab USA during the 1st quarter valued at $29,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Rocket Lab USA during the 4th quarter worth $40,000. 71.78% of the stock is currently owned by 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.