Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 3.9% - What's Next?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) fell 3.9% during mid-day trading on Wednesday . The stock traded as low as $19.92 and last traded at $20.24. 5,009,632 shares changed hands during trading, a decline of 67% from the average session volume of 15,186,936 shares. The stock had previously closed at $21.07.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RKLB shares. The Goldman Sachs Group raised their target price on Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Citigroup cut their price objective on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Morgan Stanley raised their price target on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Wells Fargo & Company dropped their target price on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, KeyCorp reduced their price objective 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. Five research analysts have rated the stock with a hold rating, six have assigned 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 a consensus price target of $22.72.

Rocket Lab USA Price Performance

The firm has a market cap of $8.95 billion, a price-to-earnings ratio of -53.35 and a beta of 2.08. The business has a 50 day simple moving average of $20.32 and a 200-day simple moving average of $20.86. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $132.39 million for the quarter, compared to analysts' expectations 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 expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the transaction, the insider now directly owns 1,417,644 shares of the company's stock, valued at approximately $28,253,644.92. The trade was a 0.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.70% of the company's stock.

Institutional Trading of Rocket Lab USA

Several hedge funds have recently added to or reduced their stakes in the stock. Spectrum Wealth Counsel LLC bought a new stake in shares of Rocket Lab USA in the fourth quarter valued at $25,000. Sandy Spring Bank bought a new position in Rocket Lab USA in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in Rocket Lab USA in the 4th quarter valued at approximately $40,000. Versant Capital Management Inc raised its holdings 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 valued at $28,000 after acquiring an additional 860 shares during the period. Finally, MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Rocket Lab USA during the first quarter worth $29,000. Institutional investors own 71.78% of the company's stock.

Rocket Lab USA Company Profile

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.