Rocket Lab USA (NASDAQ:RKLB) Trading Up 2% - What's Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s share price rose 2% on Wednesday . The company traded as high as $18.49 and last traded at $18.51. Approximately 2,444,530 shares traded hands during trading, a decline of 83% from the average daily volume of 14,709,179 shares. The stock had previously closed at $18.15.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RKLB. KeyCorp dropped their price objective on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group boosted their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Stifel Nicolaus increased their price target on Rocket Lab USA from $26.00 to $31.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Wells Fargo & Company lowered their price objective on shares of Rocket Lab USA from $22.00 to $21.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. Finally, TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.06.

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Rocket Lab USA Trading Down 7.5 %

The firm has a market cap of $8.11 billion, a price-to-earnings ratio of -48.35 and a beta of 2.06. The firm's 50-day moving average is $22.85 and its 200-day moving average is $19.88. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The business had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. As a group, sell-side analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Frank Klein sold 1,835 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total value 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 trade represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.70% of the company's stock.

Hedge Funds Weigh In On Rocket Lab USA

Several large investors have recently bought and sold shares of RKLB. Versant Capital Management Inc lifted its position in shares of Rocket Lab USA by 118.1% during the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock valued at $28,000 after purchasing an additional 860 shares in the last quarter. MassMutual Private Wealth & Trust FSB bought a new position in shares of Rocket Lab USA in the first quarter valued at approximately $29,000. Wellington Management Group LLP purchased a new stake in shares of Rocket Lab USA during the fourth quarter valued at approximately $17,261,000. California State Teachers Retirement System lifted its holdings in Rocket Lab USA by 7.1% during the fourth quarter. California State Teachers Retirement System now owns 303,732 shares of the rocket manufacturer's stock worth $7,736,000 after acquiring an additional 20,241 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Rocket Lab USA in the fourth quarter worth $5,334,000. 71.78% of the stock is currently owned by institutional investors.

About Rocket Lab USA

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.