Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) shares dropped 1.6% on Tuesday . The company traded as low as $19.88 and last traded at $19.89. Approximately 4,016,847 shares traded hands during trading, a decline of 72% from the average daily volume of 14,509,486 shares. The stock had previously closed at $20.21.
Analysts Set New Price Targets
A number of analysts have commented on the stock. Stifel Nicolaus increased their price objective on shares of 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 cut their price target on Rocket Lab USA from $22.00 to $21.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. KeyCorp lowered their price objective on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. TD Cowen raised Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, Rocket Lab USA presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.06.
Read Our Latest Stock Report on Rocket Lab USA
Rocket Lab USA Price Performance
The stock has a fifty day simple moving average of $23.82 and a 200-day simple moving average of $19.47. The company has a market capitalization of $8.46 billion, a PE ratio of -50.34 and a beta of 2.06. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.
Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $132.39 million for 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%. Equities analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Frank Klein sold 1,835 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the transaction, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 13.70% of the stock is owned by company insiders.
Hedge Funds Weigh In On Rocket Lab USA
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Rocket Lab USA by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer's stock valued at $921,901,000 after purchasing an additional 668,093 shares during the period. Geode Capital Management LLC raised its stake in Rocket Lab USA by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer's stock valued at $211,084,000 after acquiring an additional 32,658 shares during the last quarter. FMR LLC lifted its position in Rocket Lab USA by 30,853.3% during the 4th 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. Northern Trust Corp raised its position in Rocket Lab USA by 9.5% during the 4th quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer's stock worth $82,207,000 after buying an additional 281,339 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Rocket Lab USA by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer's stock worth $73,919,000 after acquiring an additional 23,855 shares during the period. 71.78% of the stock is owned by institutional investors and hedge funds.
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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