Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s share price gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $19.83, but opened at $16.36. Rocket Lab USA shares last traded at $18.82, with a volume of 9,890,900 shares.
The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%.
Analyst Ratings Changes
Several brokerages have recently weighed in on RKLB. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. KeyCorp lowered their target price on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday. Stifel Nicolaus boosted their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Cantor Fitzgerald boosted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. Finally, Bank of America boosted their target price on Rocket Lab USA from $10.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Five investment 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.61.
Get Our Latest Analysis on Rocket Lab USA
Insider Activity at Rocket Lab USA
In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the sale, the director now owns 534,675 shares of the company's stock, valued at $12,297,525. The trade was a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nina Armagno sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the sale, the director now directly owns 132,294 shares in the company, valued at approximately $3,126,107.22. The trade was a 7.03 % decrease in their position. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by insiders.
Institutional Trading of Rocket Lab USA
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Rocket Lab USA in the fourth quarter valued at approximately $4,134,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Rocket Lab USA during the fourth quarter worth $84,000. Sunbelt Securities Inc. increased its position in shares of Rocket Lab USA by 911.9% during the fourth quarter. Sunbelt Securities Inc. now owns 5,717 shares of the rocket manufacturer's stock worth $150,000 after acquiring an additional 5,152 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Rocket Lab USA by 30.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 682,790 shares of the rocket manufacturer's stock worth $17,391,000 after acquiring an additional 159,642 shares during the period. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Rocket Lab USA during the fourth quarter worth $22,331,000. Hedge funds and other institutional investors own 71.78% of the company's stock.
Rocket Lab USA Stock Up 3.1 %
The business has a 50-day moving average price of $26.71 and a two-hundred day moving average price of $18.00. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The firm has a market cap of $10.22 billion, a PE ratio of -55.25 and a beta of 1.99.
About Rocket Lab USA
(
Get Free Report)
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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