Rocket Lab USA (NASDAQ:RKLB) Shares Gap Up – Here’s What Happened

Rocket Lab USA, Inc. (NASDAQ:RKLB) gapped up before the market opened on Wednesday . The stock had previously closed at $17.83, but opened at $18.92. Rocket Lab USA shares last traded at $18.09, with a volume of 4,701,596 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RKLB shares. Bank of America lifted their price target on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. KeyCorp cut their target price 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. The Goldman Sachs Group raised their price target on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Morgan Stanley boosted their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.06.

Rocket Lab USA Stock Down 4.7 %

The company has a market cap of $7.97 billion, a PE ratio of -47.49 and a beta of 2.06. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The company’s 50 day moving average is $25.30 and its 200 day moving average is $18.58.

Rocket Lab USA (NASDAQ:RKLB) 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 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. As a group, analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of Rocket Lab USA

Several large investors have recently bought and sold shares of the stock. Spectrum Wealth Counsel LLC acquired a new stake in shares of Rocket Lab USA during the fourth quarter worth about $25,000. Sandy Spring Bank purchased a new stake in shares of Rocket Lab USA in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Rocket Lab USA in the fourth quarter worth $40,000. Quarry LP purchased a new position in shares of Rocket Lab USA during the fourth quarter worth $48,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of Rocket Lab USA by 1,000.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock valued at $49,000 after buying an additional 1,750 shares during the period. 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.