Rocket Lab USA (NASDAQ:RKLB) Trading Up 2% – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price was up 2% during mid-day trading on Wednesday . The company traded as high as $18.49 and last traded at $18.51. Approximately 2,444,530 shares changed 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

Several equities research analysts recently commented on the company. 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 report on Friday, February 28th. Morgan Stanley lifted their price target on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. The Goldman Sachs Group boosted their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Citigroup dropped their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Wells Fargo & Company lowered their price target on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average target price of $23.06.

Rocket Lab USA Price Performance

The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock has a market cap of $8.86 billion, a P/E ratio of -52.78 and a beta of 2.06. The firm has a 50 day moving average price of $23.33 and a 200 day moving average price of $19.89.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. On average, analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Frank Klein sold 44,553 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $18.18, for a total value of $809,973.54. Following the transaction, the insider now directly owns 1,419,479 shares of the company’s stock, valued at approximately $25,806,128.22. The trade was a 3.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently modified their holdings of RKLB. Charles Schwab Investment Management Inc. grew its stake in Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after acquiring an additional 532,207 shares in the last quarter. D.A. Davidson & CO. bought a new stake in shares of Rocket Lab USA in the third quarter worth about $116,000. Rockefeller Capital Management L.P. boosted its stake in Rocket Lab USA by 5.6% during the third quarter. Rockefeller Capital Management L.P. now owns 241,472 shares of the rocket manufacturer’s stock valued at $2,350,000 after buying an additional 12,753 shares during the last quarter. Verition Fund Management LLC purchased a new position in Rocket Lab USA during the 3rd quarter valued at approximately $325,000. Finally, Centiva Capital LP purchased a new stake in shares of Rocket Lab USA during the 3rd quarter worth approximately $116,000. 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.