Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $17.83, but opened at $18.92. Rocket Lab USA shares last traded at $18.09, with a volume of 4,701,596 shares.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the company. The Goldman Sachs Group increased their target price on 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 increased their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Monday. Citigroup dropped their price objective on shares of 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. Wells Fargo & Company cut their price objective on shares of Rocket Lab USA from $22.00 to $21.00 and set an "equal weight" rating for the company in a research report on Monday, March 3rd. Finally, Cantor Fitzgerald lifted their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $23.06.
Read Our Latest Stock Report on Rocket Lab USA
Rocket Lab USA Trading Up 3.1 %
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 business's fifty day moving average is $25.59 and its 200 day moving average is $18.58. The stock has a market cap of $8.34 billion, a PE ratio of -49.46 and a beta of 2.06.
Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its quarterly 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 return on equity of 39.47% and a negative net margin of 51.76%. The firm had revenue of $132.39 million for the quarter, compared to analysts' expectations of $130.58 million. As a group, analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.
Hedge Funds Weigh In On Rocket Lab USA
Several hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. lifted its holdings in Rocket Lab USA by 46.8% in the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer's stock valued at $6,727,000 after purchasing an additional 220,432 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer's stock worth $28,006,000 after purchasing an additional 532,207 shares during the last quarter. Geode Capital Management LLC raised its stake in Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer's stock worth $80,317,000 after purchasing an additional 898,223 shares during the period. FORA Capital LLC purchased a new position in Rocket Lab USA during the third quarter worth approximately $449,000. Finally, National Bank of Canada FI boosted its holdings in shares of Rocket Lab USA by 149.2% in the 3rd quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer's stock valued at $490,000 after purchasing an additional 30,178 shares during the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.
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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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