Rocket Lab USA (NASDAQ:RKLB) Trading Down 1.5% - Here's What Happened

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s share price was down 1.5% during trading on Thursday . The company traded as low as $19.42 and last traded at $19.67. Approximately 4,270,431 shares traded hands during trading, a decline of 72% from the average daily volume of 15,213,335 shares. The stock had previously closed at $19.98.

Analyst Upgrades and Downgrades

RKLB has been the topic of several recent analyst reports. KeyCorp dropped 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, February 28th. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. Stifel Nicolaus raised their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Morgan Stanley increased their target price 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 boosted their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a research report on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.72.

Rocket Lab USA Price Performance

The company has a market cap of $8.95 billion, a price-to-earnings ratio of -53.35 and a beta of 2.08. 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 company has a fifty day simple moving average of $20.32 and a two-hundred day simple moving average of $20.78.

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 analysts' consensus estimates 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 analyst estimates of $130.58 million. On average, equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of the stock in a transaction on Friday, March 14th. The shares were 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 in the company, valued at $25,806,128.22. This represents a 3.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 13.70% of the company's stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of hedge funds have recently added to or reduced their stakes in the business. Spectrum Wealth Counsel LLC bought a new position in Rocket Lab USA during the 4th quarter worth $25,000. Sandy Spring Bank bought a new stake in Rocket Lab USA during the fourth quarter worth approximately $26,000. Versant Capital Management Inc grew its holdings in shares of Rocket Lab USA by 118.1% during the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock valued at $28,000 after buying an additional 860 shares in the last quarter. MassMutual Private Wealth & Trust FSB bought a new position in shares of Rocket Lab USA in the first quarter worth about $29,000. Finally, Farther Finance Advisors LLC lifted its holdings in Rocket Lab USA by 181.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock valued at $35,000 after purchasing an additional 1,226 shares during the last quarter. Institutional investors and hedge funds 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.