Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 1.5% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price dropped 1.5% on Thursday . The stock traded as low as $19.42 and last traded at $19.67. Approximately 4,270,431 shares changed hands during trading, a decline of 72% from the average daily volume of 15,213,335 shares. The stock had previously closed at $19.98.

Wall Street Analysts Forecast Growth

RKLB has been the subject of a number of research analyst reports. Stifel Nicolaus raised their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. 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 report on Friday, February 28th. Wells Fargo & Company cut their target price on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group boosted their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Finally, TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.72.

Rocket Lab USA Price Performance

The firm has a market capitalization of $8.95 billion, a PE ratio of -53.35 and a beta of 2.08. 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 stock has a fifty day moving average price of $20.32 and a 200-day moving average price of $20.78.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Sell-side analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54. Following the completion of the sale, the insider now directly owns 1,419,479 shares of the company’s stock, valued at approximately $25,806,128.22. This trade represents a 3.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently modified their holdings of the company. Spectrum Wealth Counsel LLC purchased a new stake in Rocket Lab USA in the 4th quarter valued at about $25,000. Sandy Spring Bank acquired a new stake in Rocket Lab USA in the fourth quarter valued at approximately $26,000. Versant Capital Management Inc grew its stake 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 valued at $28,000 after acquiring an additional 860 shares in the last quarter. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Rocket Lab USA in the 1st quarter valued at approximately $29,000. Finally, Farther Finance Advisors LLC raised its holdings in 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 acquiring an additional 1,226 shares in the last quarter. Institutional investors and hedge funds 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.