Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) fell 0.4% during mid-day trading on Thursday . The company traded as low as $9.28 and last traded at $9.41. 1,982,794 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 9,669,550 shares. The stock had previously closed at $9.45.
Analyst Ratings Changes
A number of research firms recently commented on RKLB. KeyCorp lifted their price target on Rocket Lab USA from $8.00 to $11.00 and gave the stock an "overweight" rating in a report on Friday, September 27th. Morgan Stanley cut Rocket Lab USA from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $8.00 to $6.00 in a research note on Monday, July 15th. BTIG Research began coverage on shares of Rocket Lab USA in a report on Wednesday, June 26th. They issued a "neutral" rating on the stock. Citigroup increased their price objective on shares of Rocket Lab USA from $5.45 to $7.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. Finally, JMP Securities assumed coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a "market perform" rating on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Rocket Lab USA has an average rating of "Hold" and an average target price of $6.75.
Read Our Latest Stock Report on Rocket Lab USA
Rocket Lab USA Stock Performance
The stock's 50-day simple moving average is $6.94 and its 200-day simple moving average is $5.30. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of -25.38 and a beta of 1.32. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90.
Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.02. The firm had revenue of $106.25 million for the quarter, compared to analyst estimates of $105.47 million. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The company's revenue was up 71.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.10) EPS. Analysts forecast that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $198,798.48. Following the sale, the general counsel now owns 637,558 shares in the company, valued at approximately $4,437,403.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the business's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the completion of the transaction, the general counsel now owns 637,558 shares of the company's stock, valued at approximately $4,437,403.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Adam C. Spice sold 62,512 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the sale, the chief financial officer now owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 130,521 shares of company stock worth $906,059 over the last ninety days. Corporate insiders own 13.70% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of RKLB. Wellington Shields & Co. LLC increased its stake in shares of Rocket Lab USA by 3.8% in the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer's stock valued at $332,000 after buying an additional 2,503 shares during the period. Amalgamated Bank lifted its holdings in shares of Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer's stock worth $58,000 after purchasing an additional 2,538 shares during the period. 180 Wealth Advisors LLC increased its holdings in Rocket Lab USA by 7.5% in the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer's stock valued at $214,000 after purchasing an additional 2,807 shares during the period. Lakeridge Wealth Management LLC raised its position in Rocket Lab USA by 30.0% during the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer's stock worth $126,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Verus Capital Partners LLC lifted its holdings in Rocket Lab USA by 11.9% during the 2nd quarter. Verus Capital Partners LLC now owns 33,160 shares of the rocket manufacturer's stock worth $159,000 after buying an additional 3,525 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.
Rocket Lab USA Company Profile
(
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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.
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