Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s stock price traded down 5% during trading on Monday . The stock traded as low as $17.35 and last traded at $17.70. 6,258,611 shares changed hands during trading, a decline of 57% from the average session volume of 14,689,633 shares. The stock had previously closed at $18.62.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on RKLB shares. Wells Fargo & Company reduced their price objective on shares of Rocket Lab USA from $22.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group increased their price target on Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Morgan Stanley boosted their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. KeyCorp cut their price objective on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Finally, Citigroup decreased their target price on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Rocket Lab USA has an average rating of "Moderate Buy" and a consensus target price of $23.06.
Read Our Latest Stock Analysis on Rocket Lab USA
Rocket Lab USA Stock Performance
The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The company has a market cap of $8.11 billion, a PE ratio of -48.35 and a beta of 2.06. The business has a fifty day simple moving average of $23.12 and a two-hundred day simple moving average of $19.89.
Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). The company 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%. Research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.
Insiders Place Their Bets
In other news, insider Frank Klein sold 1,835 shares of the company's stock in a transaction dated Monday, March 17th. The shares were 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 represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 13.70% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 valued at $28,006,000 after buying an additional 532,207 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in Rocket Lab USA during the 3rd quarter valued at about $116,000. Rockefeller Capital Management L.P. increased its holdings in shares of Rocket Lab USA by 5.6% in the third quarter. Rockefeller Capital Management L.P. now owns 241,472 shares of the rocket manufacturer's stock valued at $2,350,000 after purchasing an additional 12,753 shares during the period. Verition Fund Management LLC purchased a new position in shares of Rocket Lab USA in the third quarter worth about $325,000. Finally, Centiva Capital LP acquired a new stake in shares of Rocket Lab USA during the third quarter worth about $116,000. Hedge funds and other institutional investors own 71.78% of the company's stock.
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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