Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 4.4% - Here's Why

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) shares traded down 4.4% during mid-day trading on Monday . The company traded as low as $18.88 and last traded at $18.87. 2,561,562 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 15,304,457 shares. The stock had previously closed at $19.74.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RKLB shares. Morgan Stanley increased 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 report on Monday, March 10th. Citigroup lowered their price target on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. 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, February 28th. Wells Fargo & Company reduced their price objective on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Rocket Lab USA has a consensus rating of "Moderate Buy" and an average price target of $22.72.

Rocket Lab USA Price Performance

The company has a market cap of $8.30 billion, a PE ratio of -49.46 and a beta of 2.08. The stock has a fifty day moving average price of $20.32 and a 200-day moving average price of $20.94. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $132.39 million for 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%. On average, equities analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling at Rocket Lab USA

In related news, insider Frank Klein sold 44,553 shares of the 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 completion of the sale, the insider now directly owns 1,419,479 shares in the company, valued at approximately $25,806,128.22. This trade represents a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC raised its position in Rocket Lab USA by 34.0% in the third quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer's stock worth $207,000 after purchasing an additional 5,381 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Rocket Lab USA in the 3rd quarter valued at about $107,000. Everence Capital Management Inc. bought a new stake in shares of Rocket Lab USA during the 4th quarter valued at $286,000. Harbor Capital Advisors Inc. acquired a new position in Rocket Lab USA in the fourth quarter valued at about $2,395,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Rocket Lab USA in the 4th quarter valued at approximately $754,000. 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.

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