Rocket Lab USA (NASDAQ:RKLB) Shares Down 0.7% - Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) shares were down 0.7% during trading on Monday . The stock traded as low as $19.25 and last traded at $19.49. Approximately 4,321,986 shares were traded during trading, a decline of 71% from the average daily volume of 15,135,677 shares. The stock had previously closed at $19.63.

Analysts Set New Price Targets

RKLB has been the topic of a number of recent research reports. Stifel Nicolaus upped their price objective 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. TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. 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 research report on Thursday, January 16th. Wells Fargo & Company lowered their price target on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, Citigroup cut their target price on shares of 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 research 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 company. According to MarketBeat, Rocket Lab USA currently has an average rating of "Moderate Buy" and a consensus price target of $22.72.

Rocket Lab USA Stock Performance

The company has a market cap of $8.95 billion, a price-to-earnings ratio of -53.35 and a beta of 2.08. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The stock's fifty day simple moving average is $20.49 and its two-hundred day simple moving average is $20.71.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released 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). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The firm had revenue of $132.39 million during the quarter, compared to analysts' expectations of $130.58 million. Equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the sale, the insider now owns 1,417,644 shares of the company's stock, valued at approximately $28,253,644.92. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its stake 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 buying an additional 3,684,195 shares during the last quarter. Two Sigma Advisers LP acquired a new position in shares of Rocket Lab USA during the fourth quarter valued at $72,623,000. BNP Paribas Financial Markets bought a new position in shares of Rocket Lab USA during the fourth quarter worth about $56,977,000. Two Sigma Investments LP acquired a new stake in shares of Rocket Lab USA in the 4th quarter worth about $47,074,000. Finally, Renaissance Technologies LLC boosted its stake in Rocket Lab USA by 1,765.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer's stock valued at $46,325,000 after purchasing an additional 1,721,300 shares during the period. 71.78% of the stock is owned by institutional investors and hedge funds.

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.