Rocket Lab USA (NASDAQ:RKLB) Trading Up 0.3% - What's Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) shares were up 0.3% on Friday . The stock traded as high as $22.56 and last traded at $21.95. Approximately 5,274,881 shares changed hands during trading, a decline of 66% from the average daily volume of 15,394,929 shares. The stock had previously closed at $21.88.

Analyst Ratings Changes

RKLB has been the topic of a number of research analyst reports. Stifel Nicolaus upped their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Needham & Company LLC assumed coverage on Rocket Lab USA in a report on Friday. They issued a "buy" rating and a $28.00 target price for the company. Morgan Stanley increased their price target on Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. KeyCorp lowered their price objective on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, Citigroup reduced their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $23.25.

Rocket Lab USA Stock Performance

The company has a 50-day simple moving average of $19.57 and a two-hundred day simple moving average of $21.32. 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 firm has a market cap of $10.15 billion, a PE ratio of -60.48 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). The firm 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%. As a group, equities research analysts forecast 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 1,835 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the transaction, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. The trade was a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 13.70% of the company's stock.

Institutional Inflows and Outflows

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