Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 0.6% – Should You Buy?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) traded up 0.6% on Friday . The company traded as high as $18.59 and last traded at $18.65. 2,609,992 shares traded hands during trading, a decline of 82% from the average session volume of 14,414,588 shares. The stock had previously closed at $18.53.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company reduced their price objective on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Morgan Stanley raised their price objective 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. Stifel Nicolaus increased their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. 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 note on Friday, February 28th. Finally, Citigroup cut their target price on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rocket Lab USA has a consensus rating of “Moderate Buy” and a consensus price target of $23.06.

Rocket Lab USA Trading Up 0.4 %

The stock has a market capitalization of $8.44 billion, a PE ratio of -50.46 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 stock has a 50 day moving average price of $24.36 and a 200-day moving average price of $19.01.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly 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%. Sell-side analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Transactions at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction 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 directly owns 1,417,644 shares of the company’s stock, valued at approximately $28,253,644.92. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Rocket Lab USA by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock worth $921,901,000 after purchasing an additional 668,093 shares during the period. Geode Capital Management LLC raised its holdings in Rocket Lab USA by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock worth $211,084,000 after purchasing an additional 32,658 shares during the period. FMR LLC raised its holdings in Rocket Lab USA by 30,853.3% in the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock worth $94,141,000 after purchasing an additional 3,684,195 shares during the period. Northern Trust Corp raised its holdings in Rocket Lab USA by 9.5% in the 4th quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer’s stock worth $82,207,000 after purchasing an additional 281,339 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Rocket Lab USA by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock worth $73,919,000 after purchasing an additional 23,855 shares during the period. 71.78% of the stock is 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.