Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s stock price shot up 10.1% on Wednesday . The stock traded as high as $21.40 and last traded at $20.97. 9,163,671 shares changed hands during trading, a decline of 40% from the average session volume of 15,322,805 shares. The stock had previously closed at $19.04.
Wall Street Analyst Weigh In
A number of research firms recently commented on RKLB. KeyCorp dropped their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Needham & Company LLC began coverage on Rocket Lab USA in a research report on Friday. They set a "buy" rating and a $28.00 price objective for the company. The Goldman Sachs Group raised their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Stifel Nicolaus boosted their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley increased their price target on 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. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Rocket Lab USA presently has an average rating of "Moderate Buy" and an average price target of $23.25.
Get Our Latest Report on RKLB
Rocket Lab USA Stock Up 2.3 %
The firm has a market cap of $10.15 billion, a PE ratio of -60.48 and a beta of 2.08. 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 business has a fifty day moving average price of $19.57 and a two-hundred day moving average price of $21.24.
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, analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.
Insider Activity at Rocket Lab USA
In other news, insider Frank Klein sold 1,835 shares of Rocket Lab USA 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.70% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Rocket Lab USA
Several institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. acquired a new position in shares of Rocket Lab USA during the 3rd quarter valued at about $107,000. Udine Wealth Management Inc. bought a new stake in Rocket Lab USA during the fourth quarter worth approximately $1,342,000. Van ECK Associates Corp raised its position in shares of Rocket Lab USA by 26.9% in the fourth quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer's stock valued at $4,237,000 after purchasing an additional 35,293 shares during the period. AlphaCentric Advisors LLC lifted its stake in shares of Rocket Lab USA by 66.7% in the fourth quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the rocket manufacturer's stock worth $637,000 after buying an additional 10,000 shares during the last quarter. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Rocket Lab USA during the 4th quarter worth $1,281,000. 71.78% of the stock is currently owned by institutional investors.
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.
Further Reading
Before you consider Rocket Lab USA, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rocket Lab USA wasn't on the list.
While Rocket Lab USA currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
