Rocket Lab USA (NASDAQ:RKLB) Shares Down 1.2% - What's Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) fell 1.2% during trading on Friday . The stock traded as low as $19.42 and last traded at $19.74. 9,181,879 shares were traded during mid-day trading, a decline of 40% from the average session volume of 15,275,294 shares. The stock had previously closed at $19.98.

Analyst Ratings Changes

RKLB has been the topic of several recent analyst reports. Citigroup cut their target price 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. Stifel Nicolaus upped their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Wells Fargo & Company dropped their price target on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley boosted their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Finally, The Goldman Sachs Group lifted their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Five equities 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. Based on data from MarketBeat.com, Rocket Lab USA has an average rating of "Moderate Buy" and a consensus target price of $22.72.

Rocket Lab USA Stock Up 2.1 %

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 stock has a market capitalization of $8.64 billion, a PE ratio of -51.46 and a beta of 2.08. The company's fifty day moving average price is $20.14 and its 200-day moving average price is $21.00.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). The company had revenue of $132.39 million during the quarter, compared to analysts' expectations of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Transactions at Rocket Lab USA

In other news, insider Frank Klein sold 44,553 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54. Following the transaction, the insider now directly owns 1,419,479 shares of the company's stock, valued at $25,806,128.22. This represents a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 13.70% of the company's stock.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds have recently bought and sold shares of the business. FMR LLC grew its stake in shares of Rocket Lab USA by 30,853.3% in the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock worth $94,141,000 after acquiring an additional 3,684,195 shares during the period. Two Sigma Advisers LP purchased a new stake in Rocket Lab USA in the fourth quarter worth approximately $72,623,000. BNP Paribas Financial Markets bought a new stake in Rocket Lab USA in the 4th quarter worth approximately $56,977,000. Two Sigma Investments LP purchased a new stake in Rocket Lab USA during the 4th quarter valued at $47,074,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Rocket Lab USA by 1,765.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer's stock valued at $46,325,000 after buying an additional 1,721,300 shares during the period. Hedge funds and other 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.