Rocket Lab USA (NASDAQ:RKLB) Now Covered by Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Rocket Lab USA (NASDAQ:RKLB - Free Report) in a research note issued to investors on Friday morning, Marketbeat.com reports. The firm issued a buy rating and a $28.00 price objective on the rocket manufacturer's stock.

A number of other equities research analysts have also weighed in on the stock. The Goldman Sachs Group raised their price target 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. Morgan Stanley raised their target price on Rocket Lab USA from $18.00 to $20.00 and gave the company 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 note on Monday, February 24th. Stifel Nicolaus increased their price target on Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Finally, KeyCorp dropped their price objective 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. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.25.

Rocket Lab USA Trading Up 2.3 %

RKLB stock traded up $0.50 during midday trading on Friday, reaching $22.38. 13,748,388 shares of the company's stock traded hands, compared to its average volume of 15,507,341. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA has a fifty-two week low of $3.66 and a fifty-two week high of $33.34. The business has a 50-day moving average price of $19.57 and a two-hundred day moving average price of $21.24. The company has a market capitalization of $10.15 billion, a P/E ratio of -60.48 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its earnings results 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 company had revenue of $132.39 million for the quarter, compared to analysts' expectations of $130.58 million. Equities research analysts forecast that Rocket Lab USA will post -0.38 EPS for the current fiscal year.

Insider Transactions at Rocket Lab USA

In other news, insider Frank Klein sold 44,553 shares of Rocket Lab USA stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $18.18, for a total value of $809,973.54. Following the completion of the transaction, the insider now directly owns 1,419,479 shares of the company's stock, valued at approximately $25,806,128.22. The trade was a 3.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 13.70% of the company's stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of large investors have recently bought and sold shares of the business. Spectrum Wealth Counsel LLC bought a new position in shares of Rocket Lab USA during the fourth quarter valued at approximately $25,000. Sandy Spring Bank acquired a new position in Rocket Lab USA during the 4th quarter valued at approximately $26,000. Versant Capital Management Inc grew its stake in Rocket Lab USA by 118.1% during the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock worth $28,000 after buying an additional 860 shares during the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in Rocket Lab USA in the first quarter worth $29,000. Finally, Farther Finance Advisors LLC increased its position 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 worth $35,000 after buying an additional 1,226 shares during the period. Institutional investors 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.